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SWVL’s Major Investor Leads $26m Series A Round In Egyptian Delivery Startup, Breadfast

November 3, 2021

Mostafa Amin, co-founder and CEO of Breadfast

Breadfast, Egypt’s top food delivery network, revealed on Wednesday that it had raised $US 26 million Series A round led by a major investor in SWVL, Vostok New Ventures, as well as Endure Capital. The round, which included JAM Fund, YC Continuity Fund, Shorooq Partners, 4FX Ventures, and Flexport, is one of the region’s largest in 2021, bringing Breadfast’s total investment to more than $US 33 million since its inception in 2017.

“We started out baking and delivering fresh bread, and today we are able to give Egyptians access to thousands of items of their basic supermarket supplies at the click of a button,” said Amin, co-founder and CEO of Breadfast, in a statement following the announcement of the Series A round.

“Our mission is to change how people consume their daily essentials in Africa and the Middle East and, through our dynamic technology and deep understanding of the end-to-end supply chain process in the region, we are growing a simple idea into a product we believe can benefit millions of people across the MENA and Sub-Saharan regions.”

Breadfast will also use the new capital to grow into eight new locations across Egypt and Sub-Saharan Africa, as well as scale the technology that powers its iOS and Android-based app.

Why The Investors Invested

Breadfast is poised to become a market leader, according to JAM Fund’s Justin Mateen, who is also the co-founder of Tinder.

“Breadfast is defining how consumers in emerging markets plan and carry out their grocery shopping. The Breadfast team has managed to build a complex operation, that offers a seamless experience for customers,” said Mateen in a press release.

“Supported by a massive demographic and favorable operating expenses in emerging markets, Breadfast is poised to become a leader in the grocery q-commerce market. I am excited about supporting this team in their future plans.”

A Look At What Breadfast Does

Breadfast, founded by Mostafa Amin, Muhammad Habib, and Abdallah Nofal, provides scheduled and on-demand delivery of groceries and other household supplies, with a focus on baked products at first.

Deliveries are presently available in under 60 minutes across Cairo, Giza, and Mansoura, with the startup hoping to reduce this to 20 minutes by using a portion of the additional financing to expand its dark shop network.

In early November 2021, Breadfast will begin delivering in Alexandria.

Egyptian Grocery Delivery Startup, Appetito,Lands $2m Pre-Series A Funding

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning write

Egypt-based Grocery Delivery Startup Breadfast Raises Over $1 million In Funding To Fuel International Expansion

March 9, 2020

Mostafa Amin, the co-founder and CEO of Breadfast

2020 is proving a good year already for startups in Egypt. Y Combinator-backed Egyptian fresh bread and grocery delivery platform Breadfast has raised a seven-figure (USD) investment in a bridge round (pre-Series B) to fuel international expansion across the North Africa and Middle East Region.

“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,” Mostafa Amin, the co-founder and CEO of Breadfast said in a statement.

Here Is The Deal

The investment came from Y Combinator’s founder Paul Graham (his first in an Egyptian startup), Gmail’s founder Paul Buchheit, Endure Capital, Shorooq Partners and ‘very strategic players’ from Saudi, UAE, United States, United Kingdom, and Tanzania.
The Cairo-based startup had previously raised its seven-figure Series A just nine months ago after making it to Y Combinator.
Buoyed by the new funding and encouraged by its initial success in Egypt, Breadfast is now targeting aggressive expansion within the next three years across the Middle East, Africa, & Turkey, but starting with Dubai, Riyadh, and Jeddah.
Mostafa said the startup is expected to launch in Dubai by the end of this year.

Read also: Honest Advice for First-Time Startup Investors From a Long-Time Investor

Why The Investors Invested

“We are excited and humbled to join Breadfast’s journey as 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, KSA and so forth and cannot wait to dominate the region,” Shane Shin, Founding Partner at Shorooq Partners, said.

A Look At What Breadfast Does

Founded in mid-2017, Breadfast had started by offering next-day delivery of its own fresh bread and bakery products to customers in Cairo. It had since expanded to deliver groceries too. Today, it also announced the soft launch of Breadfast Now, a native cloud supermarket that it claims is the first of its kind in the Middle East and Africa.

Breadfast Now delivers fresh bakery produced daily in Breadfast’s production facilities in addition to breakfast delights and general groceries (including fruits) within sixty minutes across Cairo.

Mostafa Amin, the co-founder and CEO of Breadfast said that most of the SKUs are by Breadfast and the rest are aggregated in their warehouses to be dispatched from there to customers on a daily basis.

“We are dealing directly with the manufacturers and farmers to source these products,” he said.

The startup claims to be delivering tens of thousands of orders every month.