Egyptian Healthtech Startup, Vezeeta, Expands to Nigeria, Kenya and Ghana
Egypt-based Healthtech startup Vezeeta has announced it’s expanding its B2B SaaS pharmacy services to Nigeria, Kenya, and Ghana. The expansion is supported by TEAMFund, a US-based impact VC focused on promoting tech change and healthcare access in emerging economies.
Vezeeta was founded in 2014 by Amir Barsoum and Ahmed Badr, the startup aims to eliminate the necessity of the middleman in pharmaceutical services to deliver prompt medical and consultation services to patients. Vezeeta operates a multi-service ePharmacy channel is equipped to offer auto-refill services, medication reminders, seamless same-day deliveries, and hassle-free secure online payments to all users.
Note that Vezeeta raised a $40 million Series D funding round in February 2020, led by Gulf Capital of the United Arab Emirates, with additional capital from current Riyadh-based investor Saudi Technology Ventures (STV), which led to Vezeeta’s $12 million Series C round in September 2018.
Vezeeta has now serviced more than 10 million patients in 55 cities, more than doubling its year-over-year growth.
Mohammad El Mougi, chief product officer of Vezeeta speaking on the expansion said that its solution is revolutionalizing the pharmacy sector in Africa.
“Vezeeta is gearing up to roll out its B2B SaaS solution, Vezeeta-in-a-box, across the region, and UAE is one of the key markets we’re focused on. Our SaaS solution first digitized and disrupted the industry with the doctors’ booking solution, and then revolutionized the pharmacy sector. Now, in the aftermath of the Covid-19 pandemic, as the need for digital transformation across the industry becomes urgent, the white label-led solution is set to elevate patients’ access to quality care by empowering healthcare entities through next-gen digital tools,” said Mohammad El Mougi.
Yousuf Mazhar, Managing Partner, TEAMFund also added that:
“TEAMFund is proud to partner with Vezeeta, a mission-driven, transformative company that is putting to practice and championing the principles of ESG and impact, to actively ensure the wellbeing and health of underserved communities in emerging markets. Vezeeta’s B2B solution is well-positioned to drive sustainable changes within the health-tech landscape across the world, including both developed and developing markets, and disrupt the way healthcare entities interact and treat their patients at large through innovative, easy-to-use solutions,” said Yousuf.