Egyptian e-health startup Vezeeta has raised an undisclosed amount of growth funding to accelerate its organic growth as well as fund acquisitions and expansions across the Middle East and Africa.
Founded in 2012 by Ahmed Badr and Amir Barsoum, Vezeeta is a healthcare app that enables patients to book doctor appointments, order medications online, and order at-home lab sample collection. It has more than 10 million patients across 80 cities.
The company, which in 2020 raised a US$40 million Series D funding round to boost its product innovation and fund global expansion, has announced an undisclosed amount of growth funding, secured from Abu Dhabi-based Gulf Capital and Sweden-based VNV Global.
After reaching profitability, Vezeeta is now set to spearhead its expansion into new products and search for acquisitions across the region, to empower a wider base of patients with cutting-edge healthcare solutions.
“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.”
