Chefaa, an Egyptian startup that functions as a patient-centric pharmacy benefits platform, has secured $5.25 million in funding to boost its growth and expand in Saudi Arabia.
The company was established in 2017 by Dr Doaa Aref and Dr Rasha Rady, and it provides a platform for users to conveniently order, schedule, and refill both non-insured and insured recurring prescriptions.
It also offers various services to all health care stakeholders. With over one million active monthly users connected to more than 1,100 pharmacies across Egypt and Saudi Arabia, Chefaa aims to accelerate its growth following the new funding from current and new investors.
Newtown Partners from South Africa and Global Brain from Japan co-led the funding round, which also counted GMS Capital Partners LLC, Verod-Kepple Africa Ventures, and M3 as participants. The funding comes after Chefaa’s successful launch in eight cities in Saudi Arabia and will bolster its efforts to scale in the country.
Chefaa continues to prioritise market needs in the face of the continuous challenges. This has resulted in designing new services and features with our eyes on our mission and 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 and mission.
Doaa Aref, Chefaa CEO
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, Newtown Partners.
As we have seen a 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 a 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 the investment group at Global Brain Corporation
