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Egyptian healthtech startup Vezeeta has raised a new, $1-million investment from the International Finance Corporation (IFC), a member of World Bank Group — less than three months after closing a $12-million Series C funding round led by Saudi-based STV.
Vezeeta has developed one of the Middle East and North Africa’s (MENA) largest healthcare booking platforms and medical practice management software.
Egyptian startup publication Menabytes reported today that the deal is the IFC’s first direct investment in an Egyptian technology company.
The publication quoted Vezeeta CEO and co-founder Amir Barsoum (pictured above) saying that the “IFC is a global power that will not only help fuel our growth but also bridge us to an incredible global network”.
Egypt’s Vezeeta has raised a new, undisclosed investment from the IFC,less than three months over closing a $12-million round
Vezeeta, which was founded in 2012 by Barsoum, claims to have managed over 3-million bookings in the MENA region and connected 2.5-million patients to more than 10 000 doctors in Egypt, Saudi Arabia and Jordan.
Last year Vezeeta was involved in a $5-million funding round which is widely thought to be one of the biggest by an Egyptian tech startup, after mobility platform Swvl‘s $8-million Series-A round in April this year.
The IFC earlier today announced that it had also invested $6-million in Nigerian startup Kobo360.
Read more: Kobo360 lands $6-million equity investment from World Bank’s IFC
Read more: Egyptian healthtech Vezeeta raises $12m in Series-C round led by Riyadh VC STV
Read more: Ahead of the Pharoahs’ Group A match, meet Egyptian healthtech Vezeeta
Editor’s note (10 December 2018): The amount that Vezeeta raised from the IFC was initially not disclosed. The figure of $1-million was however mentioned by the IFC in a subsequent statement and has now been included in Ventureburn’s article (see here).
Featured image: Vezeeta CEO and founder Amir Barsoum (Supplied)