EBRD invests up to $10 mln in Egypt’s Breadfast to boost digital grocery growth

The investment is part of Breadfast’s Series B2 funding round, alongside Novastar Ventures, SBI Investments, the International Finance Corporation, Mubadala, AAIC Investment, and Olayan Financing Company, as well as existing backers Y Combinator and 4DX Ventures.

The new financing will support Breadfast’s expansion across Egypt, enhance its operational capacity, and strengthen its balance sheet, providing the financial flexibility needed to sustain long-term growth in an increasingly competitive digital retail market.

Breadfast has developed a differentiated business model underpinned by strong supply-chain control and data-driven execution. Its expanding private-label portfolio, disciplined operational approach, and proprietary technology platform position the company to scale efficiently in a large and still underserved consumer market.

The investment is aligned with the EBRD’s strategic priorities in Egypt, particularly in promoting digital transformation and private-sector capacity building.

The project also includes digital training programmes and career development opportunities in management, technology, and customer service, helping to address labour market gaps while supporting Breadfast’s growth ambitions.

Egypt is a founding member of the EBRD. Since launching operations in the country in 2012, the bank has invested more than 14.2 billion euros across 221 projects, spanning sectors such as finance, agribusiness, manufacturing, infrastructure, and transport.