Egypt’s Vezeeta raises $40m in Series-D round

Egyptian healthtech Vezeeta has secured $40-million in a Series-D round led by Gulf Capital, one of the Middle East’s largest alternative asset management firms.

The company, which was founded in 2012 by Amir Barsoum (pictured above seated on right, with fellow staff), made the announcement in a statement today.

The company’s existing investor Saudi Technology Ventures (STV), which led Vezeeta’s Series C round in September 2018 (see this story), also took part in the round.

Operating from its headquarters in Dubai now, having moved its main office from Cairo, Vezeeta has developed one of the Middle East and North Africa’s (MENA) largest healthcare booking platforms and medical practice management software.

Egyptian healthtech Vezeeta has raised $63-million in funds since its inception in 2012

The company operates in 50 cities across Egypt, Saudi Arabia, Jordan and Lebanon and the platform generates four million annual appointments, tripling year over year.

Barsoum said in the statement that Gulf Capital’s investment provides the company with the ability to expand its product portfolio on a global scale.

With the support of STV in 2018, Vezeeta was able to bolster its expansion plans primarily in Saudi Arabia.

“Leveraging our technology, we have helped patients tap into the power of choice, and the power of information, to access the kind of healthcare that our users deserve. We will continue to cater to local health-related pains while expanding our product portfolio to many more markets,” added Barsoum.

The company has raised more than $63-million in funds since inception.

Vezeeta’s other investors include Beco Capital, Silicon Badia, Vostok New Ventures, Crescent Enterprises’ CE-Ventures and Endeavour Catalyst.

This year, Vezeeta’s growth plans include rolling out its new digital capabilities of epharmacy and tele-health
across its existing footprint and new markets.

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Featured image: Vezeeta founder Amir Barsoum (seated on right) with (standing, from left to right) Performance marketing director Ehab Mohamed, VP of People Bérengère Dumont, VP of epharmacy Maha Melhem and Director of finance Andrew Maher and (seated, left) Chief of staff Germin ElZoghby (Supplied)