Chefaa, an Egyptian startup that provides patient-centric pharmaceutical benefits, has raised $5.25 million in funding to help it grow and expand in Saudi Arabia.
This round of funding was co-led by Newtown Partners of South Africa and Global Brain of Japan. Other participants were GMS Capital Partners LLC, Verod-Kepple Africa Ventures, and M3. It will help Chefaa scale in Saudi Arabia, where it has already launched successfully and is now available in eight locations.
Chefaa, started in 2017 by doctors Doaa Aref and Rasha Rady, facilitates several services for all parties involved in healthcare, including the easy ordering, scheduling, and refilling of recurrent prescriptions for both insured and non-insured consumers.
“Chefaa continues to prioritize market needs in the face of the continuous challenges. This has resulted in designing new services and features with our eyes on our mission and vision. We focus on measuring Chefaa’s impact as we grow. We are thrilled that our investors share our passion and believe in our vision and mission,” said Doaa Aref, CEO of Chefaa.
“Our follow-on investment in Chefaa via DP World’s Innovation Venture Fund reflects our continued conviction that we have a capable set of entrepreneurs in Doaa and Rasha making excellent progress in the massive opportunity to improve healthcare access in GCC and SSA by digitizing healthcare user interfaces,” said Llew Claasen, managing partner at Newtown Partners.
“As we have seen solid growth in this tough business climate since 2022, we truly believe that Chefaa is becoming the uppermost patient-centric service provider in the region. We are delighted to make a decision to have an additional investment and prepared to continuously back the team to further enhance the accessibility of medical services,” said Hiroto Sorita, director of the investment group at Global Brain Corporation.
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