Chefaa, an Egyptian e-health startup, has raised unspecified funding to expand its network, launch a new product and launch in new markets.
Rasha Rady, Doaa Aref and Doaa Aref started the organization in 2017. Chefaa the e-pharmacy platform provides an integrated healthcare experience. Through its app and main platform, the startup provides compliant, ethical, and patient-centric services.
Chefaa will use the unspecified amount of funding from Newtown Partners, Global Brain, and GMS Capital Partners to expand its network and launch new markets. It will also be used to support the launch of Chefaa Prime, an alternative to traditional health insurance for emerging markets.
“From the start, we focused on empowering Chefaa’s ability to measure the impact of every step it takes with real data, not just for funding but for execution and scaling as well,” said Aref.
“I believe this venture round is pivotal not because it will only help us scale our validated business models, but because it will also help us capitalize on untapped market opportunities. We are confident Chefaa will dominate over a much larger market share in the next two years.”
Chefaa is the first venture into the Egyptian market for all three of its investors. Llew Claasen from Newtown Partners said that Chefaa was an attractive proposition.
“We have found Chefaa to be compelling for its proven ability to scale across geographies, impressive traction and growth across MENA, a strong female-led team with extensive healthcare and pharmaceutical expertise, a large, engaged base of customers, as well as strong alignment with our pharmaceutical e-commerce thesis and their ability to digitise healthcare interfaces,” he said.