Egyptian e-health startup, Chefaa receives funding to facilitate growth

Chefaa, an Egyptian e-health startup, has raised an undisclosed amount of funding to help it expand its network, launch a new product, and enter new markets.

Chefaa, founded in 2017 by Rasha Rady and Doaa Aref, is an e-pharmacy platform that offers a complete healthcare experience. The startup provides users with compliant, ethical, and patient-centric services via a variety of platforms, including its main platform and an app.

Chefaa will use the undisclosed amount of funding from Newtown Partners, Global Brain, and GMS Capital Partners to expand its network and launch in new markets. It will also help with the launch of its Chefaa Prime product, which is a full-service medical insurance alternative designed for emerging markets.

“From the beginning, we focused on empowering Chefaa’s ability to measure the impact of every step it takes with real data, not just for funding, but also for execution and scaling,” Aref said.

“I believe this venture round is critical not only for helping us scale our validated business models, but also for capitalizing on untapped market opportunities.” We are confident that Chefaa will command a much larger market share over the next two years.”

For all three Chefaa investors, this is their first foray into the Egyptian market. Chefaa has proven to be an appealing proposition, according to Llew Claasen, managing partner at Newtown Partners.

“We found Chefaa to be compelling because of 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 customer base, as well as strong alignment with our pharmaceutical e-commerce thesis and their ability to digitise healthcare interfaces,” he said.