UAE's Gulf Capital invests in Egypt's digital healthcare platform

Medical booking platform raises $40mln in latest round of funding

  
Image used for illustrative purpose. Two doctors discuss treatment plan in hospital corridor.

Image used for illustrative purpose. Two doctors discuss treatment plan in hospital corridor.

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Egypt’s Vezeeta, an online platform that allows customers to book medical appointments, has just secured $40 million in funding from investors, which include a UAE-based firm.

The healthcare platform operating in the Middle East and Africa raised the additional funds in its Series D round led by Gulf Capital, an alternative asset management firm.

Launched initially in Cairo, Vezeeta allows patients to search, book and review doctors and medical services online. It now operates in 50 cities across Egypt, Saudi Arabia, Jordan and Lebanon and generates 4 million appointments every year.

This year, the company plans to roll out new services, including ePharmacy and Tele-health across the markets where it operates, as well as in new locations.

“Vezeeta is leading the digitasation of the healthcare sector in our region, making it easier to book and confirm doctor appointments in real-time,” said Alvaro Abella, director at Gulf Capital.

The latest fundraising has been supported by Vezeeta’s existing investor, Saudi Technology Ventures (STV), which earlier led the firm’s Series C round in September 2018. The previous funds raised by Vezeeta were used to support the company’s expansion plans primarily in Saudi Arabia.

Since it launched into business in 2012, Vezeeta has raised more than $63 million in funds, and among the investors who have extended capital include BECO Capital, Silicon Badia, Vostok New Ventures, Crescent Enterprises’ CE-Ventures and Endeavour Catalyst.

(Writing by Cleofe Maceda; editing by Anoop Menon)

Cleofe.Maceda@refinitiv.com

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