Chefaa, the Revolutionary Egyptian E-Health Startup, Secures $5.25M in Funding to Turbocharge Growth and Expand Across Saudi Arabia”
Chefaa, a cutting-edge e-health startup founded by Dr. Doaa Aref and Dr. Rasha Rady, has successfully raised $5.25 million in a funding round co-led by Newtown Partners from South Africa and Global Brain from Japan. The round also saw participation from GMS Capital Partners LLC, Verod-Kepple Africa Ventures, and M3.
Established in 2017, Chefaa operates as a patient-centric pharmacy benefits platform, enabling users to easily order, schedule, and refill both insured and non-insured prescriptions. With a strong presence in Egypt and Saudi Arabia, the startup connects over one million monthly active users to a network of more than 1,100 pharmacies.
The recent funding injection is expected to propel Chefaa’s growth, particularly in Saudi Arabia, where the platform has already successfully launched in eight cities. The funds will be instrumental in scaling operations and introducing new services and features to cater to the evolving needs of the market.
CEO at Chefaa
CEO of Chefaa, expressed excitement about the support from investors who share the company’s vision and mission. The investment underscores the commitment to enhancing healthcare accessibility in the Gulf Cooperation Council (GCC) and Sub-Saharan Africa (SSA) regions through digital innovation.
Llew Claasen, Managing Partner at Newtown Partners, emphasized the confidence in Chefaa’s progress and its potential to improve healthcare access. Hiroto Sorita, Director of the Investment Group at Global Brain Corporation, highlighted Chefaa’s remarkable growth amid challenging conditions, positioning it as a leading patient-centric service provider in the region.
The continued investment is seen as a testament to Chefaa’s promising trajectory and its pivotal role in advancing healthcare services in the digital landscape.
Source: Disrupt Africa