Egyptian e-health startup Vezeeta has raised a US$40 million Series D funding round to boost its product innovation and fund global expansion plans in 2020.
Launched in 2015 in Cairo, Vezeeta allows more than four million patients across four countries to search, book and review the best doctors and medical services in just one minute. It also provides innovative SaaS solutions to more than 30,000 healthcare providers listed on its platform.
The startup raised a US$12 million Series C funding round in 2018, which it followed up shortly after by raising an additional US$ 1 million from the IFC, and it has now taken in US$40 million in Series B capital in a round led by Gulf Capital and joined by existing investor Saudi Technology Ventures (STV).
The fundraising will be used to support Vezeeta’s mission to empower patients in Middle Eastern and African markets with its integrated digital healthcare platform. Vezeeta has grown to become a mainstream digital leader of e-health solutions, enabling patients to search, book and review the best doctors and medical services in just one minute.
“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,” said Amir Barsoum, founder and chief executive officer (CEO) of Vezeeta.
“Leveraging our technology, we have helped patients tap into the power of choice, and the power of information, to access the kind of healthcare that our users deserve. We will continue to cater to local health- related pains while expanding our product portfolio to many more markets.”
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,” he said.
“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.”