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.
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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)