Olayan steps into Egypt’s e-commerce market with Breadfast investment

Riyadh’s Olayan Financing took part in the Egyptian online grocery platform Breadfast's USD 50 mn pre-Series C funding round, Breadfast co-founder and CEO Mostafa Amin told Bloomberg. Other participants include Mubadala, SBI Investment, Y Combinator, the World Bank’s IFC, Novastar Ventures, 4DX Ventures, and the European Bank for Reconstruction and Development.

Where will the money go? The funds will be deployed in developing the firm’s infrastructure and business units. The company is also mulling utilizing the fresh capital in a potential expansion in other North and West African countries.

REMEMBER- Breadfast secured USD 10 mn in a Series B2 round in August 2025, which saw participation from the European Bank for Reconstruction and Development and Novastar Ventures. That round pushed the company’s valuation to around USD 400 mn.

What’s next? The company aims to have a more sizable funding round in 1H 2026, with ongoing discussions currently taking place with growth investors for a Series C. It also targets close to 3% of Egypt’s USD 100 bn grocery market in the next three years, with plans to have a global IPO in the future.

Aramco secures offtake from US LNG project

Aramco locked in a 20-year LNG supply contract with US-based gas producer Caturus for 1 mtpa of LNG from the proposed Commonwealth LNG export project in Louisiana. The project — slated to launch operations in 2030 — is expected to generate nearly USD 3.5 bn in annual export revenues.

Why it matters: The agreement highlights Aramco’s aggressive expansion into the US LNG market — where capacity is projected to nearly double over the next four years. The move follows previous agreements with other US entities, such as NextDecade’s Rio Grande LNG project. It also underscores a surge in commercial activity in the US LNG sector following the lifting of a pause on new export permits last year.

BACKGROUND- A long list of companies –– including Switzerland’s Glencore and Mercuria, Japan’s Jera, Malaysia’s Petronas, and local firm EQT –– have already signed offtake agreements for the project. The US has been striving to cement its position as the world’s largest exporter of LNG, surpassing previous leaders Qatar and Australia.

Cashin raises Series A funding

Local fintech firm Cashin closed a SAR 60 mn Series A funding round led by Impact46, it said in a LinkedIn post. Founded by Omar Al-Rammah (LinkedIn) and Abdulkarim Zrik (LinkedIn), the firm provides digital financial and operational management systems for fuel and energy stations.

Cybersecurity startup locks in USD 2.4 mn in seed round

Homegrown cybersecurity startup Solidrange raised USD 2.4 mn (c. SAR 9 mn) in a seed round led by Riyadh-based Sharaka Capital, according to a press release. The round saw participation from Sadu Capital, SEEDRA Ventures, and Tali Ventures. The capital will drive regional growth, fuel R&D, and further embed AI throughout the company’s product suite.

2P renews + increases facility from SNB

Perfect Presentation for Commercial Services (2P) renewed and increased a shariah-compliant facility from Saudi National Bank (SNB), it said in a disclosure to Tadawul. The SAR 200 mn facility will go toward issuing letters of guarantees, letters of credit, and invoice financing for newly awarded projects.

Tags: