Alliance of UAE, Swedish, Jordanian, Egyptian funds secures $5 million for Veezeta

A consortium of four mutual funds from Egypt, UAE, Sweden, and Jordan has secured $5 million funding for Cairo-based healthcare platform, Veseeta Company, the company’s chief executive Amir Barsoum said Sunday.

Veseeta managed to attract investments from UAE, Sweden, and Jordan which reflects the huge trust they put in the company particularly and young Egyptian entrepreneurs in general, Barsoumsaid in an interview with Amwal Al Ghad.

Barsoum added that Egypt’s healthcare sector requires a serious reform plan asserting that IT solutions can hugely contribute to the improvement of medical care in the country.

The official further pointed out that the funding is the third Veezeta managed to attract, he added.

Vezeeta has succeeded in attracting and benefiting from foreign investors since founded in 2012. Among these investors isthe Technology Development Fund (TDF)و which is the biggest contributor with investments worth $3.4 million.

Vezeeta is specialised in offering online medical services which allows patients to make reservations in clinics, hospitals, and laboratories online. The company obtains specific fees from the doctors, radiology centres, and labs existing in its platform in exchange for the service offered by the company, and the patient does not pay any fees for using the services.

The company now makes about 10,000 reservations monthly for between 1,500 and 1,700 doctors through its online platform, and it aims to increase the number of doctors on its platform by 1,000 each month.

Barsoum expressed his company’s willingness to strengthen its presence regionally and locally. The company also aims to transfer its expertise and successful experiences to others in using new electronic tools found on smartphones and tablets to meet the needs of a large segment of internet users.