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Wed 12 Feb 2020 09:05 AM

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Healthcare platform Vezeeta raises $40m in funding round led by Gulf Capital

Vezeeta currently operates in in 50 cities across Egypt, Saudi Arabia, Jordan and Lebanon

Healthcare platform Vezeeta raises $40m in funding round led by Gulf Capital
Vezeeta raises $40m in funding (L to R, back)  Ehab Mohamed Performance Marketing Director Brengre Dumont VP of People Maha Melhem VP of ePharmacy Andrew Maher Director of FInance,  L to R front: Germin ElZoghby Chief of Staff Amir Barsoum CEO Mohammad ElMougi CPO

Middle East and Africa-focused digital healthcare platform Vezeeta has raised $40 million in a Series D funding round led by UAE-based Gulf Capital.

In a statement, Vezeeta said that the funding round saw “strong support” from Saudi Technology Ventures (STV), which led Vezeeta’s Series C round in September 2018.

The Vezeeta platform allows patients to search, book and review doctors and medical services in just one minute. It currently operates in 50 cities across Egypt, Saudi Arabia, Jordan and Lebanon, generating 4 million annual appointments, tripling year over year.

“Building a global healthcare powerhouse requires a strong investor base to support and drive continuous innovation and disruptive solutions,” said Amir Barsoum, founder and CEO of Vezeeta. “Gulf Capital provides us the perfect synergy for our future plans to diversify and expand our product portfolio on a global scale.”

With the support of STV in 2018, Vezeeta was already 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,” Barsoum added. “We will continue to cater to local health-related pains while expanding our product portfolio to many more markets.”

Since being founded in 2012, Vezeeta has raised over $63 million from investors including BECO Capita, Silicon Badia, Vostok New Ventures, Crescent Enterprises’ CE-Ventures and Endeavor Catalyst.

In 2020, the firm plans to roll out a number of new digital capabilities including its ePharmacy and tele-health across its existing and new markets.

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