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EgyptBreadfast Secures $10M Boost as EBRD Fuels Egyptian Quick-Commerce Expansion
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Breadfast, an Egyptian grocery delivery firm, secured $10 million from EBRD and Novastar Ventures.
With this investment, the company’s valuation has rocketed to between $382 and $400 million.
They plan to expand delivery in Cairo, Giza, Alexandria, and Mansoura, reaching new markets.
Breadfast handles over 1 million orders monthly for 300,000 users, with $150 million revenue.
They're exploring fintech with Breadfast Pay, setting themselves apart in Egypt's quick-commerce scene.
Breadfast, the Egyptian online grocery delivery firm that’s become a daily habit for many in Cairo and beyond, has just pulled in a tidy $10 million investment thanks to backing from the European Bank for Reconstruction and Development (EBRD) and Novastar Ventures. With this cash injection, the company’s valuation now sits somewhere between $382 and $400 million – not too shabby for a business that started life baking fresh bread.
For those who aren’t already knee-deep in the local startup scene, Breadfast has made a name for itself by controlling pretty much the whole process – from rolling out dough in its own bakeries to making sure your groceries land at your door while still fresh. I’ve seen more than a few friends in Cairo rely on their app for those last-minute essentials. It’s a classic case of doing the heavy lifting behind the scenes so customers don’t have to faff about going to multiple shops.
The new funding is set to turbocharge Breadfast’s reach. Word is, they’re planning to beef up their delivery network across big hitters like Cairo, Giza, Alexandria and Mansoura – plus eyeing new markets down the road. With around 1 million orders zipping out each month for over 300,000 active users, and revenues topping $150 million last year, the numbers are nothing to sneeze at. Some might say the company has become the poster child for quick-commerce in Egypt, though I reckon their move into fintech with Breadfast Pay is an interesting twist too, one that could set them apart from rivals.
Of course, raising money is only half the battle. The Egyptian market can be a bit of a rollercoaster, with plenty of logistical headaches. That said, Breadfast seem spot on when it comes to keeping customers chuffed to bits with reliable service and a growing selection. As someone watching from the Arageek side of things, it’s genuinely energising to see MENA startups turning heads on the international stage. Sure, there’s still lots to prove, but if Breadfast keep this up, they might just be on to a winner—even if the grocery delivery game can sometimes feel like a race with no finish line.
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