The International Finance Corporation (IFC) is considering a significant equity investment of up to USD 13 million in Breadfast, a prominent Egyptian online grocery and quick commerce platform. The proposed funding is earmarked to accelerate the company’s expansion across the country and enhance its proprietary technology stack.
Fueling Nationwide Growth
The potential investment from the IFC, the private sector arm of the World Bank Group, would primarily support Breadfast’s strategic push into secondary cities across Egypt. This move aims to broaden the company’s market reach beyond its current operational hubs in Cairo, Alexandria, Giza, and Mansoura.
As part of its due diligence process, the IFC has conducted comprehensive environmental and social reviews of Breadfast’s head offices and production sites to ensure alignment with international standards. The capital would also be used to further develop the company’s AI-powered platform, which is central to its efficient 60-minute delivery promise.
A Vertically Integrated Model
Unlike many q-commerce players that operate solely as marketplaces, Breadfast distinguishes itself by controlling a significant portion of its supply chain. The company operates its own bakeries and production facilities, enabling it to offer a wide range of private-label products, from fresh bread and pastries to coffee and household essentials.
This integrated approach allows for greater quality control and margin management. The company manages a complex network of 4 offices, 10 warehouses, 7 production facilities, and 49 fulfillment points (dark stores), while outsourcing its last-mile delivery fleet to third-party logistics partners.
Building on Investor Confidence
This potential IFC backing follows a previous USD 10 million investment from the European Bank for Reconstruction and Development (EBRD). That funding round was instrumental in helping Breadfast scale its operations and expand its network of fulfillment centers, laying the groundwork for its next phase of growth.
About Breadfast
Founded in 2017 by Mostafa Amin, Muhammad Habib, and Abdallah Nofal, Breadfast is an AI-powered online grocery and quick commerce brand based in Egypt. The company provides a comprehensive range of products, including fresh produce, groceries, ready-to-eat meals, and its own line of private-label goods, all delivered to customers within 60 minutes.
Source: Waya
