Chefaa, a rising star in patient-centric pharmacy benefits platforms, has secured $5.25m in a strategic funding round led by Newtown Partners (South Africa) and Global Brain (Japan). Existing investors GMS Capital Partners LLC (US), Verod-Kepple Africa Ventures (Nigeria), and M3, Inc. (Japan) also participated.
This strategic investment comes on the heels of Chefaa’s successful launch in Saudi Arabia, where it now operates in eight cities. The funds will fuel the company’s ambitious plans to scale its supply chain digitization models and empower all industry stakeholders, ultimately enriching user experiences and boosting treatment compliance.
Chefaa’s unwavering mission remains clear: to spearhead the safe digital transformation of healthcare through a comprehensive, patient-centric approach.
“Our follow-on investment in Chefaa reflects our unwavering belief in the exceptional team, Doaa and Rasha, who are making outstanding progress in the vast opportunity to improve healthcare access across the GCC and SSA regions through digital solutions,” stated Llew Claasen, Managing Partner at Newtown Partners.
Hiroto Sorita, Director, Investment Group at Global Brain Corporation, echoed this sentiment: “Witnessing Chefaa’s remarkable growth amidst challenging market conditions since 2022 has solidified our conviction that they are becoming the region’s leading patient-centric healthcare provider. We are thrilled to invest further and continuously support the team in their mission to enhance medical service accessibility.”
Yezan Haddadin, CEO of GMS Capital Partners LLC, also commended Chefaa’s progress: “Chefaa’s significant achievements in improving healthcare accessibility in Egypt, coupled with their promising entry into the Saudi market, are truly impressive. Since our initial investment, they have consistently demonstrated a commitment to innovation and data-driven strategies, leading to impactful partnerships with major pharmaceutical players. This follow-on investment underscores our unwavering confidence in Chefaa’s innovative vision to reshape healthcare delivery across the region.”
For Ryosuke (Rio) Yamawaki, Partner at VEROD-KEPPLE AFRICA VENTURES, Chefaa’s potential is undeniable: “Their diverse product offerings cater to multiple stakeholders, positioning them to become a critical business infrastructure for pharmaceutical supply chains in Egypt and the broader Gulf region. VEROD-KEPPLE AFRICA VENTURES’ focus on investing in category-defining African startups makes Chefaa an ideal match.”
“Chefaa remains laser-focused on addressing market needs even amidst challenges,” emphasized Doaa Aref, CEO of Chefaa. “This has led us to design new services and features aligned with our mission and vision. Measuring Chefaa’s impact as we grow is paramount, and we are grateful that our investors share our passion and believe in our vision and mission.”
