• International Finance Corporation (IFC) is considering a $13 million equity investment in Egypt’s Breadfast as the company looks to accelerate expansion and strengthen its quick commerce capabilities.
• Founded in 2017 by Mostafa Amin, Muhammad Habib and Abdallah Nofal, Breadfast operates an AI-powered online grocery platform offering 60-minute delivery, fresh food, private-label products, and ready-to-eat meals, while controlling a large portion of its supply chain through in-house bakeries, production facilities, and owned brands.
• The proposed investment would support expansion into secondary cities and technology upgrades, following IFC’s environmental and social reviews, and comes after a $10 million investment from the European Bank for Reconstruction and Development, which backed the scaling of Breadfast’s fulfilment infrastructure across Egypt.

Press release:

The International Finance Corporation (IFC) is considering an equity investment of up to $13 million in Breadfast, as the Egyptian quick commerce and online grocery player looks to accelerate its domestic expansion and strengthen its technology-driven operations.

According to an IFC disclosure, the proposed investment is intended to support Breadfast’s growth across Egypt, particularly through expansion into secondary cities and further development of its proprietary technology stack. The transaction remains subject to IFC’s environmental and social due diligence and internal approvals.

Founded in 2017, Breadfast operates an AI-powered grocery and quick commerce platform offering delivery within 60 minutes. The company provides fresh produce, bread and pastries, groceries, private-label products, personal care items, coffee, and ready-to-eat meals through its vertically integrated model.

The potential IFC investment follows a $10 million funding round led by the European Bank for Reconstruction and Development (EBRD), which aimed to support the expansion of Breadfast’s fulfilment and operational infrastructure across Egypt.