Vezeeta, a healthcare platform operating in the MENA region, has raised $40 Million in a Series D funding round led by UAE-based Gulf Capital, and further investment from existing Riyadh-based investor Saudi Technology Ventures (STV), which previously led Vezeeta’s Series C round in September 2018. Vezeeta’s other investors include BECO Capital, Silicon Badia, Vostok New Ventures, Crescent Enterprises’ CE-Ventures and Endeavour Catalyst.
To date, this is one of the largest funding rounds of any tech startup in the region. The startup allows patients to see ratings for healthcare providers, which encourages the providers to improve their services overall. The services also gives power to their patients (as opposed to providers) by giving them the ability to search, book, rate, and review healthcare providers on the fly.
Launched initially in Cairo in 2012, Vezeeta is currently operating in 50 cities across Egypt, Saudi Arabia, Jordan and Lebanon, and the platform generates 4 Million annual appointments, and claims to have tripled in size year-over-year.
In a statement, Amir Barsoum, founder and CEO of Vezeeta said, “Gulf Capital provides us the perfect synergy for our future plans to diversify and expand our product portfolio on a global scale… 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.”
Moreover, the platform now plans to roll out new products, such as an online pharmacy, as well as ‘tele-health’ services across its existing footprint and new markets. Telehealth involves the use of telecommunications and virtual technology to deliver health care outside of traditional health-care facilities.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.