Breadfast Raises $10M Series B2 from EBRD and Novastar
Egypt’s leading online grocery platform Breadfast has raised $10M in a Series B2 round from EBRD and Novastar Ventures..
✨ Key Highlights
Breadfast, a leading Egyptian online grocery delivery platform, has secured $10 million in Series B2 funding from the European Bank for Reconstruction and Development (EBRD) and Novastar Ventures. This investment boosts Breadfast’s valuation to $382–400 million and will fuel the expansion of its fulfillment network and entry into new markets.
- Breadfast handles nearly 1 million orders per month for over 300,000 active users, with revenues exceeding $150 million in 2024.
- The funding aims to accelerate the extension of Breadfast’s fulfillment network, increasing capacity in core cities such as Cairo, Giza, Alexandria, and Mansoura, and expanding into new markets.
- Breadfast operates a vertically integrated model, managing its operations from quality control in baking to last-mile delivery, contributing to rapid and reliable service, and is also developing as a fintech player with its Breadfast Pay offering.
Continue Reading
Read the complete article from Tech Arena
Part of the Day's Coverage
African Tech Firms Secure Funding and Launch New Digital Services - August 2025
Technology companies across Africa have announced new funding rounds and strategic initiatives to expand digital services. Street Wallet, a fintech startup in Cape Town, raised USD 350,000 to help informal traders go cashless, bringing its valuation to USD 2 million. In Egypt, the online grocery delivery platform Breadfast secured $10 million in Series B2 funding from investors including the European Bank for Reconstruction and Development (EBRD) to expand its fulfillment network. Meanwhile, Visa has partnered with PEMANDU Associates to help governments in Africa accelerate digitization and financial inclusion. In Kenya, Safaricom launched B-LIVE, a new time-based data option allowing customers to purchase internet access by the hour rather than by volume.
