Vezeeta – Egypt-based healthtech platform raises $40 Mn funding from Gulf Capital

Vezeeta - Egypt-based healthtech platform raises $40 Mn funding from Gulf Capital
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Image credits: TechCrunch

Vezeeta, the Cairo, Egypt-based digital healthtech platform today scooped $40 million in a Series D round led by Gulf Capital. Existing investors Saudi Technology Ventures (STV) also participated in the funding round.

The platform quickly enables patients in the Middle East and Africa to search, review and book doctors, and medical services. The company is operating in over 50 cities across Egypt, Saudi Arabia, Jordan and Lebanon and claims generate 4 million annual appointments, tripling year over year.

With the fresh funds, the company aims to expand its footprint in the Middle East and Africa, create value for patients and healthcare providers in emerging markets by empowering them with data, and create affordable healthcare solutions.

Vezeeta last raised $1 million in December 2018 from International Finance Corporation and also has a big investor base encompassing renowned firms like BECO Capital and Vostok New Ventures.

Commenting over the investment round, Amir Barsoum, Founder & CEO of Vezeeta said…

“Building a global healthcare powerhouse requires a strong investor base to support and drive continuous innovation and disruptive solutions. Gulf Capital provides us the perfect synergy for our future plans to diversify and expand our product portfolio on a global scale,”

Affirming the potential and growth of Vezeeta, Dr Karim El Solh, CEO of Gulf Capital said…

“Empowering patients and their families through technology to give them better access to healthcare services and more meaningful and manageable relationships with their healthcare providers has never been more important. We were impressed with the work that Amir and his team were doing and are excited to be working with Vezeeta on its next phase of growth. We believe that, with the right financial and operational support provided by the exceptional set of investors around the table, Amir and his team can scale up Vezeeta rapidly and position the Company as the undisputed leader in the healthcare technology sector in the region. This latest growth capital funding is Gulf Capital’s sixth investment in the technology sector and highlights our commitment to capitalise on the fast growing New Economy in the Middle East,”

Alvaro Abella, Director of Gulf Capital who’ll be joining the board at Vezeeta shared plans on supporting the management at Vezeeta for the effective utilisation of funds…

“Vezeeta is leading the digitization of the health care sector in our region, making it easier to book and confirm doctor appointments in real-time. We look forward to working closely with Vezeeta and to supporting the management’s growth plans with the aim of continued digitization of other parts of the health care value chain.”

Ahmad AlNaimi, Sr. Principal at STV said…

“We truly subscribe to the mission of improving healthcare using technology. The progress the company has achieved since our investment, especially in Saudi, is incredible. We are thrilled to double down on our position and to welcome Gulf Capital to the table. The next chapter for Vezeeta holds an even bigger opportunity, and we’re excited to see Vezeeta continue its growth in Saudi where it has become the undisputed market leader and to tackle vertical healthcare opportunities head-on,”

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Wajiha Wahab

Part of the editorial team at LAFFAZ, Delhiite by birth, Wajiha possesses a keen interest in reading about startups, accumulating information and presenting the same to the audience impressively.
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