Finance

Egypt’s health platform Vezeeta raises $40mln growth fund

Thursday, 13 February 2020 14:50
Egypt’s health platform Vezeeta raises $40mln growth fund

(Ecofin Agency) - Egypt-headquartered healthcare platform Vezeeta raised $40 million in a transaction led by the UAE-based asset management firm Gulf Capital and involving Saudi Technology Ventures, a Saudi Arabian venture capital firm that is already a shareholder in Vezeeta.

Vezeeta, which enables patients to search, book and consult doctors and medical services online, plans to expand its health services this year. The company, founded in 2012, announces the launch of an online pharmacy as well as telehealth services in its key markets and in new countries.

The Vezeeta platform is currently present in about 50 cities in Egypt, Saudi Arabia, Jordan and Lebanon. “We are thrilled to double down on our position and to welcome Gulf Capital to the table. The next chapter for Vezeeta holds an even bigger opportunity, and we’re excited to see Vezeeta continue its growth in Saudi where it has become the undisputed market leader and to tackle vertical healthcare opportunities head-on,” commented Ahmad AlNaimi, Investment Director at Saudi Technology Ventures.

This new initiative brings to more than $63 million the total amount of funds raised by Vezeeta since the launch of its operations. These resources were raised from a consortium of investors including Beco Capital, CE-ventures, Endeavor Catalyst. 

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