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THE YCEO: Egyptian e-health Startup, Vezeeta Raises $1m Extra Funding From IFC

Egyptian e-health startup Vezeeta has raised US$1 million in additional funding from IFC to add to the US$12 million in Series C financing it raised earlier this year to continue its international expansion.

Launched in 2015 in Cairo, Vezeeta allows users to find and book appointments with over 10,000 doctors, and is also available in Jordan and Saudi Arabia. The startup has managed three million bookings in the region and served 2.5 million patients.

In September, Vezeeta announced it had raised a US$12 million Series C funding round, which was briefly the largest single round ever raised by an Egyptian tech startup until ridesharing startup Swvl topped it in November. It has now secured an additional US$1 million from IFC to help it continue with its expansion drive.

“IFC is a global power that will not only help fuel our growth but also bridge us to an incredible global network,” said Amir Barsoum, Vezeeta’s founder and chief executive officer (CEO).

The investment comes as part of IFC’s broader efforts to support entrepreneurship and to expand financial access to startups to create new markets. Last week it selected 100 startups from across the continent to take part in its Next Startups initiative.

“Startups like Vezeeta have the power to drive innovation in the Middle East and Africa,” said IFC CEO Philippe Le Houérou. “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.”

Vezeeta chief technology officer (CTO) Adel Khalil said the startup would continue to empower millions of patients in the region through data and new products in healthcare, ensuring that patients and healthcare providers are seamlessly integrated and engaged.

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