Tuesday 27, December 2016 by Georgina Enzer

BECO Capital leads a new round of funding for Egyptian healthcare startup

UAE-based venture capital firm focused on technology investments in MENA (Middle East and North Africa), BECO Capital, has led a new $5 million round of funding for Vezeeta, an Egypt-based healthcare technology startup.

Based in Cairo, Egypt, Vezeeta is pioneering the shift to automated physician, clinic and hospital bookings. In only two years, Vezeeta has become the go-to marketplace with comprehensive access to healthcare providers of every discipline across a multitude of insurance purveyor and specialist networks using our proprietary digital cloud based solutions.

“Vezeeta is solving major problems faced by patients when trying to connect with doctors. Finding a good doctor no longer requires asking parents and friends, nor does booking a doctor require you calling several times in an attempt to get an appointment. Even the problem of long and tedious waiting room times is vastly reduced with our system. Our platform solves healthcare accessibility and quality problems in emerging markets through various next-gen digital cloud solutions that greatly benefit the healthcare industry at large. We have developed a product that is both simple and revolutionary and plan to expand into parts of the world in need for a more elegant and user-friendly way to access healthcare providers,” said Amir Barsoum, CEO & Cofounder, Vezeeta.

Available on desktop and as a mobile app, Vezeeta eases the accessibility of booking a doctor’s appointment, allowing the user to choose a doctor by specialty, geographic area, insurance purveyor and fees. With more than 20,000 patient reviews and ratings available on the platform, users can readily determine the doctor with the best medical service and the least waiting time. Once the doctor is chosen, the patient can either book automatically from the website, the mobile app, or contact the call centre.

Led by BECO Capital, Vezeeta’s Series B funding round totals $5 million and closed in September 2016. Additional investors in the round include Vostok New Ventures, TDF and Silicon Badia.

“We are very excited with our investment in Vezeeta. Apart from it being our first investment into one of the largest healthcare markets in our region, Vezeeta’s team has demonstrated the ability to address an efficiency problem in health care delivery today and has the requisite vision, management and capabilities to provide the needed solutions for the Egyptian market going forward. We are proud to form part of a select investor base that will support the Company in its expansion plans across the region as well,” said Alvaro Abella, Managing Partner and Co-Founder, BECO Capital. “BECO is a visionary investor who is after building transformative businesses in the Region. They have the skills, knowledge and connections needed to help companies scale and expand during their first growth periods. We are extremely delighted to have them on board with us and looking forward to building together the regional digital healthcare platform.”

Currently Vezeeta covers three Egyptian cities with ambitious expansion plans to integrate additional MENA countries in the region, moving into the UAE, KSA, Jordan, Lebanon, Morocco, Kuwait and Qatar over the next 12 to 18 months.

Amir concludes: “Our vision is to become the industry-leading digital healthcare provider regionally and globally by easing the accessibility of connecting the patient marketplace with healthcare providers of every discipline using digital cloud based solutions.”

This marks BECO Capital’s first investment in Egypt.

 

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