Chefaa Secures $5.25 Million in Strategic Funding
In a groundbreaking move in the field of digital healthcare, “Chefaa”, a leading platform for online medication delivery in Egypt and Saudi Arabia, has announced securing a strategic investment of $5.25 million USD. This funding, raised from both new and existing investors, represents a significant boost for the expansion and enhancement of the company’s services.
The funding round was led by Newtown Partners from South Africa, with participation from Global Brains of Japan, GMS Capital Partners from the United States, Verod-Kepple Africa Ventures from Nigeria, and M3 from Japan.
This financial injection comes on the heels of the successful launch of the “Chefaa” platform in Saudi Arabia, aimed at achieving strategic expansion in the Kingdom. Currently operating in 8 major Saudi cities, this funding marks a strategic step in expanding the company’s digital supply chain models, enhancing user experience, and improving medication delivery.
Llew Claasen of Newtown Partners emphasized his confidence in the abilities of Dr. Doaa Aref and Rasha Radi to enhance access to digital healthcare services in the Gulf Cooperation Council and Africa.
Hiroto Suruoka from Global Brain expressed his enthusiasm for investing in Chefaa, noting the company’s strong growth in a challenging business climate and his eagerness to support the improvement of its medical services.
Regarding Egypt, Yazan Hadaddin of GMS Capital Partners LLC praised Chefaa’s progress in improving healthcare access and expressed excitement about its entry into the Saudi market.
Additionally, Ryosuke Yamawaki of VEROD-KEPPLE AFRICA VENTURES highlighted Chefaa’s unique position in transforming the pharmacy supply chains in Africa and the Gulf region.
Doaa Aref, CEO of Chefaa, shared her delight about the new funding, affirming that it will bolster the company’s mission to lead a safe digital transformation in healthcare, with a focus on providing medications to patients. Aref also explained that the company is working on developing new services and features to meet market needs, committed to measuring its impact on the community as it grows.
This funding is a significant step towards realizing Chefaa’s vision of reshaping the future of digital healthcare in the region, focusing on improving patient experience and providing effective and safe healthcare.