Mostafa Amin - Afrikan Heroes

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.
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Breakfast, Egyptian Grocery Startup Shares Regional Expansion Goals

March 11, 2020

Mostafa Amin, co-founder and chief executive officer (CEO)

The desire to ensure that families across North Africa and Middle East can have their groceries delivered on their doorstep at the touch of a click is the drive behind Egypt’s fast rising fresh bread and grocery delivery startup, Breakfast. This was made known at the company’s Series B financing round which took place over the week which attracted participants from many highly esteemed organizations such as 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’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.

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. Cairo-based fresh bread and groceries delivery startup Breadfast has raised a seven-figure financial bridge round as it prepares for its Series B.

Speaking on the development, Mostafa Amin, co-founder and chief executive officer (CEO) of Breadfast said that “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,”

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. 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.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry