Vezeeta raises $40 million in Series D

Source: Techcrunch

Vezeeta, a healthcare platform operating in the Middle East and Africa, has raised a $40 Million Series D funding round led by UAE-based Gulf Capital, alongside 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. Prior to this fund-raise, the company had raised $23M, so this latest news takes its total to $63M. Alvaro Abella, a director at Gulf Capital, joins the board.

It 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.

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.

 “Empowering patients and their families through technology to give them better access to healthcare services and more meaningful and manageable relationships with their healthcare providers has never been more important. We were impressed with the work that Amir and his team were doing and are excited to be working with Vezeeta on its next phase of growth,"  said Dr Karim El Solh, Chief Executive Officer of Gulf Capital.

Ahmad AlNaimi, senior principal at STV said: “The progress the company has achieved since our investment, especially in Saudi, is incredible. We are thrilled to double down on our position and to welcome Gulf Capital to the table.”

Vezeeta reaches around 4 million patients across 4 countries, enabling them to search, book and review doctors and medical services. It also provides a SaaS solution to more than 30,000 healthcare providers.

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