Egyptian healthtech Vezeeta has secured $40-million in a Series-D round led by Gulf Capital, one of the Middle East’s largest alternative asset management firms. Since its inception in 2012, Vezeeta has now raised a total of $63-million in funds.
Founded in 2012 by Amir Barsoum (pictured above seated on right, with fellow staff), Vezeeta operates in 50 cities across Egypt, Saudi Arabia, Jordan and Lebanon and the platform generates four million annual appointments, tripling year over year.
Announcing the $40-million raise, Amir Barsoum said in a statement that Gulf Capital’s investment provides the company with the ability to expand its product portfolio on a global scale.
“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.”
Operating from its headquarters in Dubai now, having moved its main office from Cairo, Vezeeta has developed one of the Middle East and North Africa’s (MENA) largest healthcare booking platforms and medical practice management software.
The company’s existing investor Saudi Technology Ventures (STV), which led Vezeeta’s Series C round in September 2018, also took part in the round. With the support of STV in 2018, Vezeeta was able to bolster its expansion plans primarily in Saudi Arabia.
Vezeeta’s other investors include Beco Capital, Silicon Badia, Vostok New Ventures, Crescent Enterprises’ CE-Ventures and Endeavour Catalyst.
This year, Vezeeta’s growth plans include rolling out its new digital capabilities of epharmacy and tele-health across its existing footprint and new markets.
Ahmad AlNaimi, senior principal at STV said: “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.”
Vezeeta reaches around 4 million patients across 4 countries, enabling them to search, book and review doctors and medical services. It also provides a SaaS solution to more than 30,000 healthcare providers.
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