Abu Dhabi’s Mubadala Investment Company has invested in Egyptian e-grocery startup Breadfast as the company prepares for a potential global initial public offering, the companies said on Tuesday.
Mubadala participated in a $50 million pre-Series C funding round alongside Saudi Arabia’s Olayan Financing Company, Japan’s SBI Investment Co., and the International Finance Corporation (IFC), a member of the World Bank Group.
The funding will be used to expand Breadfast’s infrastructure across Egypt, including its network of warehouses, fulfilment centres and production facilities. The company also plans to explore expansion into select North and West African markets as part of its regional growth strategy.
Founded in 2017 by Mostafa Amin, Mohamed Habib and Abdullah Noufal, Breadfast began as a bread delivery service and has since evolved into a full-service e-grocery platform offering groceries, ready-to-eat meals, pharmaceutical products and digital payment services.
The company is targeting up to 3% of Egypt’s $100 billion grocery market within the next three years.
Chief Executive Mostafa Amin said Breadfast is in preliminary discussions with growth investors ahead of a larger Series C round planned for the first half of 2026.
Private-label products account for around 40% of Breadfast’s grocery sales, underscoring its strategy to improve margins and build brand loyalty.
Breadfast was valued at nearly $400 million in late 2025, according to a source familiar with the matter, positioning it among the region’s fast-growing digital commerce platforms.