Egyptian e-health startup, Chefaa, has successfully raised $5.25 million in funding to propel its growth and expand its footprint, with a particular focus on Saudi Arabia. The startup, founded in 2017 by Dr. Doaa Aref and Dr. Rasha Rady, operates as a patient-centric pharmacy benefits platform, streamlining the process of ordering, scheduling, and refilling both non-insured and insured prescriptions.
Connecting Users and Pharmacies
Chefaa has already fostered connections with over 1,100 pharmacies across Egypt and Saudi Arabia, serving more than one million monthly active users. The platform aims to revolutionize the healthcare landscape by offering diverse services that cater to the needs of all stakeholders in the healthcare ecosystem.
Strategic Funding for Accelerated Growth
In a recent funding round, Chefaa secured $5.25 million from a blend of new and existing investors, with South Africa's Newtown Partners and Japan's Global Brain leading the investment. The funding injection comes at a crucial juncture as Chefaa expands its operations in Saudi Arabia, currently operational in eight cities, and positions itself for accelerated growth in the country.
Dr. Doaa Aref, CEO of Chefaa, emphasized the startup's commitment to addressing market needs by continually innovating its services and features. The strategic vision is centered around measuring Chefaa's impact as it grows, ensuring that the platform remains at the forefront of patient-centric healthcare service providers in the region.
Investor Confidence in Chefaa's Vision
Investors, including GMS Capital Partners LLC, Verod-Kepple Africa Ventures, and M3, express confidence in Chefaa's mission and vision. The startup's successful entry into the challenging Saudi Arabian market and its robust performance have convinced investors of its potential to further enhance medical service accessibility in the Gulf Cooperation Council (GCC) and Sub-Saharan Africa (SSA) regions.
Llew Claasen, Managing Partner at Newtown Partners, and Hiroto Sorita, Director of the Investment Group at Global Brain Corporation, reiterated their conviction in Chefaa's capability to improve healthcare access through digital innovation. As Chefaa solidifies its position in the healthcare landscape, the funding is expected to fuel its ongoing mission to make healthcare services more accessible and patient-centric.