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Chefaa gets $5.25M to fuel expansion into Saudi Arabia

December 17, 2023
Chefaa gets $5.25M to fuel expansion into Saudi Arabia

The patient-centric pharmacy benefits platform Chefaa has secured $5.25 million in a strategic leap from new and existing investors.

The investment comes after Chefaa's successful launch of operations in Saudi Arabia, where the company is now operating in 8 cities. Moreover, this strategic funding will support Chefaa's efforts to scale all models designed to digitize the supply chain and empower industry stakeholders — which inevitably reflects on users' experience and boosts compliance to treatment. The main mission for Chefaa remains leading the safe digital transformation of healthcare through a patient-centric, comprehensive approach.

Funding 💰

Round $5.25M
Other
Lead investor(s) Newtown Partners, Global Brain Corporation
Also participating GMS Capital Partners, Verod-Kepple Africa Ventures, M3

Quotes 💬

“
Our follow-on investment in Chefaa via DP World's Innovation Venture Fund reflects our continued conviction that we have a capable set of entrepreneurs in Doaa and Rasha making excellent progress in the massive opportunity to improve healthcare access in GCC and SSA by digitising healthcare user interfaces.
— Llew Claasen, Managing Partner at Newtown Partners
“
As we have seen solid growth in this tough business climate since 2022, we truly believe that Chefaa is becoming the uppermost patient-centric service provider in the region. We are delighted to make the decision to have an additional investment and prepared to continuously back the team to further enhance the accessibility of medical services.
— Hiroto SORITA, Director of Investment Group at Global Brain Corporation
“
Chefaa has made significant strides in improving healthcare accessibility in Egypt, and we are particularly excited about their entry into the Saudi market. Since our initial investment, Chefaa has consistently demonstrated a commitment to innovation and skillfully leveraged data to forge impactful partnerships with large pharmaceutical players. This follow-on investment underscores our confidence in Chefaa's innovative strategies to reshape the future of healthcare delivery in the region.
— Yezan Haddadin, CEO of GMS Capital Partners LLC
“
Chefaa is uniquely positioned to transform the retail pharmaceutical supply chain in Africa. We firmly believe that with their wide-ranging product offerings serving multiple stakeholders, Chefaa will become a critical business infrastructure for pharmaceutical supply chains in Egypt and the broader Gulf region.
— Ryosuke (Rio) Yamawaki, Partner at Verod-Kepple Africa Ventures
“
Chefaa continues to prioritize market needs in the face of the continuous challenges. This has resulted in designing new services and features with our eyes on our mission & vision. We focus on measuring Chefaa's impact as we grow. We are thrilled that our investors share our passion and believe in our vision & mission.
— Doaa Aref, CEO of Chefaa

About 🏢

Chefaa has developed and runs a GPS-enabled pharmacy benefits platform that helps chronic patients order, schedule, and refill recurring prescriptions. Insured or uninsured, the company provides users with the medication and support they need for a better quality of life. Chefaa's free "Ask pharmacist" feature is available 24/7 for anyone, anywhere in Egypt, and they take it seriously to find you the medication that their users need and, if not available, a suitable substitution. By constantly developing its offering and business model, Chefaa is committed to prioritizing the health of its users while supporting local pharmacies in the process. more
source

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