Biofertilization with plant growth-promoting bacteria (PGPB) could optimize chemical fertilization for strawberry crop cultivation. A greenhouse study was arranged to assess the impact of an isolated PGPB consortium from halophytes on strawberry development, physiological traits, and nutritional balance subjected to two phosphorus fertilization limitation treatments (with and without insoluble phosphorus form application). Biofertilization had a positive effect on strawberry development. Thus, shoot and root biomass was c. 20 and 32% higher in inoculated plants grown with insoluble phosphorus. This effect was mediated by a positive bacterial impact on plant carbon absorption capacity and water use efficiency, through a reduction in CO2 diffusional and biochemical photosynthesis limitation. Thus, net photosynthetic rate and intrinsic water use efficiency showed increments of 21–56% and 14–37%, respectively. In addition, inoculation led to a better efficiency of the plant photochemical apparatus, as indicated by the invariable higher PSII photochemistry parameters. Furthermore, these effects correlated with improved nutritional balance of phosphorus and nitrogen, which was directly related to the beneficial impact on carbon metabolism and, consequently, on strawberries’ growth. In conclusion, we can recommend the biofertilization based on PGPB for achieving more efficient strawberry P fertilization management practices, providing high efficiency in yields.