Cairo-based fresh bread and groceries delivery startup Breadfast has raised a seven-figure financial bridge round as it prepares for its Series B.
Launched in 2017 by Mostafa Amin, Muhammed Habib, and Abdallah Nofal, Breadfast delivers fresh bread, milk, and eggs to customers’ doorsteps every morning, with orders made using a mobile app.
The company owns the entire value chain, in-housing the bread production, logistics and distribution, technology and customer experience, and delivers tens of thousands of orders every month.
Breadfast’s goal is to build the largest native cloud supermarket chain across Africa and the Middle East, and with that in mind it has raised a seven-figure bridge funding round as it prepares to secure Series B financing in the near future.
Participants in the round include Paul Graham, founder of Y Combinator, which participated in Breadfast’s last raise in 2019. Also involved are Paul Buchheit, the founder of Gmail, as well as Endure Capital and the Abu Dhabi-based Shorooq Partners. Other strategic players from Saudi Arabia, the United Arab Emirates (UAE), the United States (US), United Kingdom (UK) and Tanzania also took part.
“Breadfast is on a mission to drive the emerging markets to a world-class shopping experience. Our customers have been and will always be our top priority. We think that customer experience is underestimated in emerging markets, and our goal is to build the right infrastructure using technology to reach the experience the customer deserves,” said Mostafa Amin, co-founder and and chief executive officer (CEO) of Breadfast.
Shane Shin, founding partner at Shorooq Partners, said his company was “excited and humbled” to join Breadfast’s journey.
“We firmly believe in the founders and their unparalleled focus on execution, user experience and scale. We have been working closely with Breadfast to build their operations in UAE, Saudi Arabia and so forth and cannot wait to dominate the region,” he said.
Breadfast also announced the soft launch of Breadfast Now, the first native cloud supermarket in Africa and the Middle East, eyeing an aggressive expansion within the next three years across the region, starting with Dubai, Riyadh and Jeddah. Breadfast native products include fresh bakery, produced daily within their production facilities, in addition to a growing variety of breakfast delights and general grocery goods.
The startup’s funding round and progress towards Series B funding is the latest positive development for the Egyptian startup space, which saw unprecedented growth in investment in 2019.