Vezeeta, the online healthcare booking provider, managed to collect $12m funding from a number of companies lead by Saudi Arabia’s STV Capital, which is the largest venture capital (VC) in the Middle East and North Africa.
This investment is the largest to be collected by an Egyptian start-up. The funding includes several parties, such as BECO Capital from the UAE, Vostok New Ventures from Sweden, Silicon Badia from Jordan, and Helal Enterprises.
Founder and CEO, Amir Barsoum, told Daily News Egypt that the company aims to use this funding in expanding in foreign markets, starting from Saudi Arabia, along with launching new products in the healthcare system.
“We are delighted to see STV in this round,” he said, adding that they have not been able to find a better investment team or strategic partner to help take Vezeeta to its next phase in the region.”We also welcome leading CE-Ventures investors and are proud to receive ongoing support from our existing investors BECO Capital, Vostok New Ventures, Silicon Badia.”
Barsoum, who previously served as a consultant for McKinsey, founded Vezeeta in 2012. The online platform offers users the chance to view and book medical appointment with doctors in the specified search area or insurance provider. It enables users to compare and review doctors.
Vezeeta kicked off in Egypt and has since become available in Jordan and Saudi Arabia as well, with over 10,000 on its platform. Since its inception, the company has served over 2.5 million users for 3 million bookings.
STV Partner, Hany Enaya, said they like to support efficient companies. “After meeting with Vezeeta, they looked fit for the job. We believe that, together, we can improve the healthcare level in the region,” he added.