Vezeeta, an Egyptian e-health firm, has secured an undisclosed sum in growth capital to support acquisitions and expansions across the Middle East and Africa in addition to accelerating its organic development.
Vezeeta is a healthcare app that consumers may use to schedule doctor visits, obtain prescription prescriptions online, and request at-home lab sample collection. It was founded in 2012 by Ahmed Badr and Amir Barsoum. More than 10 million patients are served by it in 80 locations.
The business, which obtained US $40 million in Series D capital in 2020 to support product innovation and worldwide development, has announced an undisclosed sum in growth funding from Gulf Capital in Abu Dhabi and VNV Global in Sweden.
In order to provide a larger patient base with cutting-edge healthcare solutions, Vezeeta is now prepared to lead its growth into new products and look for acquisitions across the area after achieving profitability.
“It took seven years for our healthcare marketplace to acquire the trust of five million patients. In contrast, our digital provider vertical, including online pharmacy and digitally-managed clinics, has achieved the same mark in less than two years. This remarkable performance is a testament to the effort and commitment of our talent, our partners from doctors, clinics, pharmacies and labs, and definitely, our shareholders and investors, without which this feat would not be possible,” said Barsoum.
“Today, I am particularly thankful to Gulf Capital and VNV Global for their support and investment, which allows us to embark on a new journey of growth, to scale our innovation to more people in the MEA region.”
“Since the beginning of our relationship with Vezeeta, we shared a common vision of improving healthcare access and efficiency in our region through health-tech innovation. We are very proud of the progress that Amir Barsoum and the Vezeeta team have achieved, by continuously reinventing the future of healthcare and achieving profitability in 2022,” said Alvaro Abella, managing director of private equity at Gulf Capital.
“With over 10 million patients across 80 cities, Vezeeta today is firmly positioned as the largest health-tech platform in the Middle East and Africa. Egypt remains a key market for us and we recently opened our regional offices in Cairo with the aim of continuing to back successful growth stories similar to Vezeeta.”
