Chefaa, an Egyptian health-tech startup founded in 2017 by Dr. Doaa Aref and Dr. Rasha Rady, has recently secured $5.25 million in funding to accelerate its growth and expansion efforts in Saudi Arabia. The platform operates as a patient-centric pharmacy benefits service, allowing users to conveniently order, schedule, and refill both non-insured and insured recurring prescriptions. With a focus on addressing the evolving needs of the market, Chefaa has successfully connected over one million active monthly users to a network of more than 1,100 pharmacies across Egypt and Saudi Arabia.

Funding Round Details

The funding round, co-led by Newtown Partners from South Africa and Global Brain from Japan, signifies a major milestone for Chefaa. Other participants in the round include GMS Capital Partners LLC, Verod-Kepple Africa Ventures, and M3. This infusion of capital follows Chefaa’s successful launch in eight cities in Saudi Arabia and aims to bolster the company’s efforts to scale its operations in the country.

Chefaa’s Mission and Vision

Chefaa has positioned itself as a platform that not only facilitates prescription management but also offers various services to all stakeholders within the healthcare ecosystem. The company remains committed to prioritizing market needs and overcoming challenges, resulting in the development of new services and features aligned with its mission and vision.

With a keen focus on measuring its impact as it grows, Chefaa aims to enhance healthcare access in the Gulf Cooperation Council (GCC) and Sub-Saharan Africa (SSA) regions by digitizing healthcare user interfaces. The founders, Dr. Doaa Aref and Dr. Rasha Rady, express their enthusiasm for the continued support from investors who share their passion for Chefaa’s mission and vision.

Investor Perspectives

Llew Claasen, Managing Partner at Newtown Partners, emphasizes the continued conviction in Chefaa’s potential to improve healthcare access in GCC and SSA by digitizing healthcare interfaces. The follow-on investment from DP World’s Innovation Venture Fund highlights the confidence in the entrepreneurial capabilities of Chefaa’s founders.

Hiroto Sorita, Director of the investment group at Global Brain Corporation, notes the solid growth that Chefaa has experienced in a challenging business climate since 2022. Global Brain Corporation expresses confidence in Chefaa becoming the foremost patient-centric service provider in the region and states its commitment to supporting the team’s efforts in enhancing the accessibility of medical services.

Chefaa’s successful funding round and expansion into Saudi Arabia underscore its significance as a player in the digital health landscape. With a focus on patient-centric services and a commitment to addressing the evolving needs of the healthcare market, Chefaa is poised for further growth and impact in the broader Middle East and African regions. The infusion of $5.25 million in funding signals a vote of confidence from investors and positions Chefaa for continued success in its mission to digitize and improve healthcare access.

By Admin

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