Endeavor Catalyst Fund, Endeavor’s co-investment vehicle, concluded its first investment in Egypt contributing 500,000 dollars to Vezeeta, in what is considered a major milestone for Endeavor Egypt and its network of High-Impact Entrepreneurs.
Vezeeta is a leader in digital healthcare solutions, led by Endeavor Egypt Entrepreneur Amir Barsoum. The success of Vezeeta’s technology comes from its ability to address real, major problems faced by patients when trying to access doctors in Egypt and across the region. In April 2017, Vezeeta announced the expansion of its online booking platform beyond Egypt and into Jordan and Lebanon, positioning it as a major regional player helping to connect thousands more patients to healthcare practitioners through fast, around-the-clock, online appointment booking.
“We are very excited to have Endeavour Catalyst on board with us,” said Amir Barsoum, CEO & cofounder of Vezeeta. “Their vast strategic experience and global network is significant and will help us to rapidly build and further scale our operations regionally as we continue our venture into new MEA markets."
Alongside Endeavor Catalyst, Jordan’s Silicon Badia, Sweden’s Vostok New Ventures and Cyprus’ Vulkan Equity Limited have also invested additional funds.
Following the company’s series B investment round in September 2016, in which it raised $5 million in investments from Silicon Badia, Vostok New Ventures, UAE’s BECO Capital and Egypt’s Science and Technology Fund, Vezeeta has now raised a total of $10.5 million in investment.
Mohamed Rahmy, MD of Endeavor Egypt, said: “With its 50+ investments made in 17 countries, and its promising track record, today’s news sends a clear signal and vote of confidence in Egypt’s entrepreneurial potential. I’m confident of the synergies Catalyst will bring to Vezeeta’s very exciting regional scale-up journey.”
The introduction of Catalyst in 2012, the rules-based co-investment fund of Endeavor, set up to exclusively invest in Endeavor Entrepreneur-led companies, has been a major driving force for the support Endeavor extends to its network of High Impact Entrepreneurs, turbo-charging their journey from startup to scale-up. To date, Endeavor Catalyst has invested in 53 Endeavor Entrepreneur companies in 18 countries.