Digital healthcare platform Vezeeta has closed its Series E funding round, bringing its total funds to nearly $90 million. The new undisclosed capital—led by Abu Dhabi-based Gulf Capital and Sweden-based VNV Global—comes two years after Vezeeta raised $40 million in a Series D funding round, with total funding of over $63 million.
The new capital will help fuel the growth plans and fund “imminent merges and acquisitions deals across MEA (the Middle East and Africa)," the company said in a statement.
The Egypt-based company marked that it reached its profitability milestone, without giving further details about the profits. “Vezeeta is now set to spearhead its expansion into new products and search for acquisitions across the region,” it further added.
It introduced several key growth drivers, including the introduction of the Doctor's Subscription Model, a subscription-based SaaS model that offers digital healthcare solutions. It also offered its pharmacy solution, offering 60-mins home deliveries across key cities
Today, the solution saw 5X growth in medication orders and has multiplied across Cairo, Giza, and Alexandria, the company said. It is now also offering e-prescription integration and geo-location tracking.
“It took seven years for our healthcare marketplace to acquire the trust of five 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,” explained Amir Barsoum, founder and CEO of Vezeeta.
