Esaal, an Egyptian online health and wellness firm, has acquired $1.7 million in a seed round of investment to help it expand across the Middle East and North Africa (MENA).
Esaal, which was founded in 2018, uses video calls and chat-based consultations to link consumers with recognized specialists in physical and mental health disciplines such as medical, psychiatric, fitness, food, and nutrition. Texting, voice calls, video chats, and home visits are just some of the ways Esaal customers may get support.
Since its inception, the company has amassed a team of over 350 consultants who have provided health and wellness services to almost one million unique consumers. It has now closed the last tranche of its $1.7 million initial investment round, which was headed by A15, which has backed the firm since its inception.
Since its founding in 2018, the firm has raised a total of US$3 million, which will be used to invest in product and brand development, expand the team, and spread across the MENA region. Saudi Arabia, Tunisia, Kuwait, and Qatar are among the eight countries where Esaal’s services are now offered.
“It’s been an incredible journey building a solution we are supremely passionate about, with the unparalleled support of experienced and strategic investors such as A15, who are literally building this business alongside us, with expertise that has enabled our expansion into key target markets,” said Fadi Doss, CEO at Esaal.
“We have only scratched the surface in an untapped market and are actively working to secure further capital to fuel our continued growth. Esaal has become a name synonymous with trust, quality and access to health and wellness professionals that can help users obtain better outcomes.”
The Esaal team had a laser focus and vision, according to Karim Beshara, managing partner of A15, to develop something really distinctive and purpose-driven in its market.
“They have been prudent in the deployment of capital to date, demonstrating outstanding efficiencies in unit economics, which has enabled their expansion ambitions. We are proud to see their growth, and enjoyed building the business with them throughout the last four years,” he said.
“There is so much more to come from Esaal and this sector, and as they continue to scale across the MENA region, it’s exciting to see not just the significant growth and returns, but the difference the team continues to make with the services they are enabling users to access for better health.”
