Chefaa secures $5.25M in strategic fund after expansion in Saudi Arabia
Updated 12/17/2023 4:08:00 PM
Arab Finance: The Egypt-based patient-centric pharmacy benefits platform Chefaa has raised $5.25 million in a strategic leap from new and existing investors, according to an emailed press release.
The funding round was co-led by South Africa’s Newtown Partners and Japan’s Global Brain, with the participation of the US-based GMS Capital Partners LLC, the Nigerian Verod-Kepple Africa Ventures, and the JapaneseM3 Inc.
The investment followed the successful launch of Chefaa's operations in Saudi Arabia where the company is now operating in eight Saudi cities.
Chefaa will utilize this strategic funding to scale all models tailored to digitize the supply chain and empower industry stakeholders.
“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 and vision. We focus on measuring Chefaa’s impact as we grow.” Doaa Aref, CEO of Chefaa, commented.
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