Cairo-based healthtech startup Vezeeta has raised $12 million in its Series C round led by Saudi Arabia’s STV Capital, the largest VC fund of Middle East & North Africa. It is the largest-ever investment raised by an Egyptian startup. Vezeeta’s existing investors including BECO Capital from UAE, Sweden’s Vostok New Ventures and Silicon Badia from Jordan also joined the round along with Dubai-based Crescent Enterprises’ CE Ventures. With this round, Vezeeta has now raised about $22.5 million in funding so far, which makes it one of the best funded startups in the region.
Founded by Amir Barsoum, a former McKinsey Consultant, in 2012, Vezeeta through its web-based platform and mobile apps allows users to book medical appointments and health services – users can search for doctors by specialty, geographical area, or insurance provide (wherever applicable), compare them, and read the verified reviews before booking an appointment. The startup also offers its SaaS solutions to healthcare providers, making it easier for them to manage their operations.
Started with Egypt, Vezeeta is currently also available in Jordan & Saudi Arabia with more than 10,000 doctors on its platform. Since launching it has served over 2.5 million users across these countries facilitating more than 3 million bookings.
The company plans to use this investment to continue its expansion primarily in Saudi Arabia where it has recently launched and in some new products.
Speaking about their decision to invest in Vezeeta, Hani Enaya, Partner with STV, said, “We love to support high-caliber founders who are transforming major industries. Upon meeting Amir and Vezeeta’s management team, it was immediately apparent to us that they are on such a mission. We believe Amir and the Vezeeta team can truly elevate the healthcare experience in the region.”
“We are thrilled to see STV leading this round,” commented Amir Barsoum, Founder & CEO of Vezeeta. “We could not find a better investment team or strategic partner to help us take Vezeeta to its next stage in the region. We also welcome to our prominent investors profile, CE-Ventures, and we are proud to receive the continuous support from our current investors BECO Capital, Vostok New Ventures and Silicon Badia.”
Late last year, a similar Saudi startup Sihatech had raised $1.33 million in their Series A by Saudi Aramco’s VC arm Wa’ed.
We had a chance to chat with Vezeeta CEO at RiseUp Summit in Cairo last year. Here’s a video of the conversation.