Seven years ago, Vezeeta – a healthtech start-up launched to solve the lack of consistent healthcare in Egypt. The start-up which was initially launched to operate like – Uber for Ambulance – now provides wide range of health service to both patients and healthcare specialists across the Middle East and North Africa by using technology.
By proffering solutions to healthcare problem, it has provided a free medical search platform for end users by integrating information about medical practices and doctors’ individual schedules. This works on a paid subscription basis for medical personnel – which allows users to find a doctor and make appointments – which obviously is working fine and disrupting the health sector in the MENA.
In September 2018, Saudi Arabian venture capitalist, STV led an investment round of $12 million in Series C funding for Vezeeta. 3 months later, it has now secured another round of investment from International Finance Corporation (IFC) – a member of the World Bank Group.
The new investment is the first IFC’s first direct investment in an Egyptian technology company, as per Menabytes, an Egyptian start-up publication.
In the MENA region, Dabadoc of Morocco seems to be Vezeeta’s major competitor – but at it stand, the Egyptian start-up tend to be getting more attention in the region than Dabadoc.
It has developed one of the Middle East and North Africa’s largest healthcare booking platforms and medical practice management software. The fund will afford the startup more room for traction and propel its the next level mission to deliver quality healthcare services to Egypt’s poorest regions.
See Also: Tunisian Based Robotics Start-up; Enova Robotics Secures $1.6 million Investment Round
Amir Barsoum, Vezeeta’s founder and CEO said in a statement, “IFC is a global power that will not only help fuel our growth but also bridge us to an incredible global network.”
“Startups like Vezeeta have the power to drive innovation in the Middle East and North Africa.
Entrepreneurs across the African continent have enormous creativity and drive—and they’re using the power of new technologies to tackle the region’s most formidable social and economic challenges,” said Philippe Le Houérou, IFC’s Chief Executive Officer.
In 2017, Vezeeta secured $5-million investment round which is considered to be one of the biggest round by an Egyptian tech start-up before bus-booking platform, Swvl‘s $8-million Series-A round in April this year.
The platform allows patients to search, compare, book and engage with doctors in Egypt, Saudi Arabia, Jordan, and Lebanon. It also provides practice management solutions to providers in hospitals and clinics to manage medical appointments and patient data.
Vezeeta says it has managed 3 million bookings in the region, served 2.5 million users and connected over 10,000 doctors in MENA region.