Chefaa, an Egyptian e-health firm, has secured an unknown sum of money to help it grow its network, introduce a new product, and enter new markets.
Chefaa is an e-pharmacy platform that delivers an end-to-end healthcare experience, founded in 2017 by Rasha Rady and Doaa Aref. Users may use the startup’s services, including its primary platform and an app, which provide compliant, ethical, and patient-centric services.
Chefaa will utilise the undisclosed amount of money from Newtown Partners and Global Brain, as well as GMS Capital Partners, to extend its network and enter new markets. It will also help the launch of Chefaa Prime, a comprehensive medical insurance option tailored to emerging economies.
“From the start, we focused on empowering Chefaa’s ability to measure the impact of every step it takes with real data, not just for funding but for execution and scaling as well,” said Aref.
“I believe this venture round is pivotal not because it will only help us scale our validated business models, but because it will also help us capitalise on untapped market opportunities. We are confident Chefaa will dominate over a much larger market share in the next two years.”
For all three Chefaa investors, this is their first foray into the Egyptian market. Chefaa has proven to be an appealing offer, according to Llew Claasen, the managing partner at Newtown Partners.
“We have found Chefaa to be compelling for its proven ability to scale across geographies, impressive traction and growth across MENA, a strong female-led team with extensive healthcare and pharmaceutical expertise, a large, engaged base of customers, as well as strong alignment with our pharmaceutical e-commerce thesis and their ability to digitise healthcare interfaces,” he said.
