Cairo –  Egyptian healthtech platform Vezeeta has secured new funding to spearhead its expansion into new products and seek acquisitions across the region.

The fundraising transaction was backed by Abu Dhabi-based private equity firm Gulf Capital, which has invested in several Egyptian companies, as well as Sweden-based VNV Global.

Using the proceeds of the new funding, Vezeeta aims to empower a wider base of patients by providing advanced healthcare solutions.

Founder and CEO at Vezeeta, Amir Barsoum, said: “It took seven years for our healthcare marketplace to acquire the trust of 5 million patients. In contrast, our digital provider vertical, including online pharmacy and digitally-managed clinics, has achieved the same mark in less than two years.”

Managing Director at Gulf Capital, Alvaro Abella, noted: “With over 10 million patients across 80 cities, Vezeeta today is firmly positioned as the largest health-tech platform in the Middle East and Africa.”

Abella stated: “Egypt remains a key market for us and we recently opened our regional offices in Cairo with the aim of continuing to back successful growth stories similar to Vezeeta.”

Björn von Sivers, Investment Manager at VNV Global, commented by saying: “With the rise of digitalisation in every aspect of [Middle East and Africa] MEA's healthcare landscape, now is the time for Vezeeta to swiftly expand its innovative solutions at scale while proactively addressing the day-to-day challenges faced by millions.”

Two years ago, Gulf Capital and Saudi Technology Ventures (STV) were part of funding raised by the health digital platform, which was founded in 2012.

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