Cairo – Mubasher: Vezeeta, the leading digital healthcare startup in the Middle East and Africa, raised $40 million in a Series D funding round led by Gulf Capital, the largest alternative asset management company in the Middle East.
Saudi Technology Ventures (STV) also participated in the funding round, after leading the digital platform’s Series C round in September 2018, according to a statement on Tuesday.
This round brings total amount of funding raised by Vezeeta since its establishment in 2012 to $63 million with the participation of high-profile investors, including BECO Capital, Silicon Badia, Vostok New Ventures, Crescent Enterprises’ CE-Ventures, and Endeavour Catalyst.
“Building a global healthcare powerhouse requires a strong investor base to support and drive continuous innovation and disruptive solutions. Gulf Capital provides us the perfect synergy for our future plans to diversify and expand our product portfolio on a global scale,” founder and CEO of Vezeeta, Amir Barsoum, said.
Vezeeta currently operates in 50 cities in Egypt, Saudi Arabia, Jordan, and Lebanon and recorded 4 million annual appointments.
The leading healthcare technology app plans to launch its new digital capabilities of ePharmacy and Tele-health in 2020.
In 2020, Vezeeta’s growth plans include rolling out its new digital capabilities of ePharmacy and Tele-health across its existing footprint and new markets.
The executive director of Gulf Capital, Alvaro Abella, who will join Vazeeta’s board, commented, “Vezeeta is leading the digitisation of the health care sector in our region, making it easier to book and confirm doctor appointments in real-time. We look forward to working closely with Vezeeta and to supporting the management’s growth plans with the aim of continued digitization of other parts of the health care value chain."