Mubadala Investment Company Backs Egyptian E-Grocery Startup Breadfast Ahead of IPO

2026-02-17 - 10:06

The UAE’s Mubadala Investment Company made an investment in Cairo-based startup Breadfast on 17 February 2026, as the rapidly growing e-grocery and delivery platform prepares for a global Initial Public Offering (IPO). Mubadala joined a USD 50 million (EGP 2 billion) pre-Series C funding round, an advanced stage of startup financing aimed at scaling operations and preparing for larger growth milestones, alongside investors including Saudi Arabia’s Olayan Financing Company, SBI Investment Co., and the World Bank’s International Finance Corporation (IFC). This stream of capital is intended to enhance Breadfast’s infrastructure across Egypt by expanding its network of warehouses, fulfillment centres and production facilities, while also supporting the company’s long-term strategy to explore expansion into select North and West African markets as part of its broader regional growth plans. Founded in 2017 by entrepreneurs Mostafa Amin, Mohamed Habib, and Abdullah Noufal, Breadfast transitioned from a bread delivery service to a comprehensive app that offers groceries, ready-to-eat meals, medicinal products, and digital payment solutions. The company aims to capture up to 3 percent of Egypt’s expansive USD 100 billion (EGP 4.7 trillion) grocery market within the next three years. The recently... This content is for members only. Visit the site and log in/register to read.