Vezeeta, the Middle East and Africa’s top digital healthcare platform, is expanding its B2B SaaS pharmacy offering to provide healthcare providers with unrivaled technology across its key markets, including Nigeria, Kenya and Ghana. TEAMFund, a US-based impact VC focused on promoting tech change and healthcare access in emerging economies, is supporting the launch.
“Vezeeta is gearing up to roll out its B2B SaaS solution, Vezeeta-in-a-box, across the region, and UAE is one of key markets we’re focused on. Our SaaS solution first digitised and disrupted the industry with the doctors’ booking solution, and then revolutionised the pharmacy sector. Now, in the aftermath of the Covid-19 pandemic, as the need for digital transformation across the industry becomes urgent, the white label led-solution is set to elevate patients’ access to quality care by empowering healthcare entities through next-gen digital tools,” said Mohammad El Mougi, chief product officer, Vezeeta.
Here Is What You Need To Know
- Vezeeta raised a $40 million Series D funding round in February 2020, led by Gulf Capital of the United Arab Emirates, with additional capital from current Riyadh-based investor Saudi Technology Ventures (STV), which led Vezeeta’s $12 million Series C round in September 2018. TEAMFund, BECO Capital, Silicon Badia, Vostok New Ventures, Crescent Enterprises’ CE-Ventures, and Endeavour Catalyst are among Vezeeta’s other investors. Over the course of four fundraising rounds, the business has raised more than $64 million.
- ‘Vezeeta-in-a-Box,’ a new white label-led solution, enables healthcare organizations of all sizes to improve their patients’ healthcare experiences by focusing on digital first. Hospitals and polyclinics can now use APIs to interface with Vezeeta’s SaaS solution, allowing their patients to benefit from the platform’s streamlined healthcare experiences. Real-time online scheduling for doctors’ in-clinic and telehealth follow-up appointments, labs, scans, and procedures, as well as the purchase and delivery of prescriptions, are all included in the entire array of capabilities.
“TEAMFund is proud to partner with Vezeeta, a mission-driven, transformative company that is putting to practice and championing the principles of ESG and impact, to actively ensure the wellbeing and health of underserved communities in emerging markets. Vezeeta’s B2B solution is well positioned to drive sustainable changes within the health-tech landscape across the world, including both developed and developing markets, and disrupt the way healthcare entities interact and treat their patients at-large through innovative, easy-to-use solutions,” said Yousuf Mazhar, Managing Partner, TEAMFund.
Read also:South African Health-tech Startup, iNNOHEALTH, Secures Seven-figure Seed Funding
- Since its premiere in April 2021 in Saudi Arabia, ‘Vezeeta-in-a-Box’ has partnered with three mega hospitals and nine polyclinics. Other significant markets, including Egypt, Nigeria, Kenya, and Ghana, will now have access to the solution.
“Vezeeta’s tech team has worked around-the-clock to develop and launch the B2B SaaS. This product is particularly beneficial for entities that are looking to reduce time-to-market, and cut costs and investments associated with developing and maintaining such technological capabilities,” said Nana Frimpong, VP of Africa at Vezeeta, who is leading the B2B SaaS business across all countries.
- Vezeeta’s pharmacy SaaS was launched in Egypt in February 2021, and it has since served over 1 million patients.
A Look At What Vezeeta Does
Founded in 2014 by Amir Barsoum and Ahmed Badr, Vezeeta started off as “DrBridge” in 2012 by providing a simple Electronic Medical Records solution to doctors in their private clinics. Unfortunately, DrBridge produced just a growth rate of 5% month over month (MoM), forcing the team to pivot further to a Practice Calendar Management scheme, which also failed. The co-founders then settled for Vezeeta in 2014. The Vezeeta product, unlike DrBridge, displayed an incredible 20% MoM growth rate and has now become the flagship product of the business that is revolutionizing the healthcare industry in Egypt.
Read also:Nigeria’s Terragon Verified as Leader in Data and Marketing Technology
The business moved from 1,000 doctors in 2015 to 10,000 doctors in 2018, representing more than 10 times increase. Bookings rose by 11 times from 2015 to 2018, too. Over all, Vezeeta has serviced more than 10 million patients in 55 cities, more than doubling its year-over-year growth.
“Doctors’ consultations and medication deliveries are key points of interests in healthcare. Medications alone account for 47 percent of the private healthcare opportunity, making ePharmacy a very exciting product,” explained Maha Melhem, VP of Vezeeta’s ePharmacy last year.
“By providing a fully digitized pharmaceutical experience, we are able to eliminate the many middlemen that not only slow down the process but also hinder patients’ experience. Our multi-service ePharmacy channel is equipped to offer auto-refill services, medication reminders, seamless same-day deliveries and hassle-free secure online payments to all users, among other essential healthcare services,” she added.
Vezeeta pharmacy Nigeria Vezeeta pharmacy Nigeria
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning write