Ezdehar Management Seals $10 Million for Stake in Yodawy
The Egyptian pharmatech has ambitious expansion plans.
Local private equity firm Ezdehar Management has closed a $10 million deal to acquire a minority stake in Egypt’s pharmacy benefits management platform Yodawy.[1]
This move was executed through Ezdehar Mid-Cap Fund II, a vehicle that boasts contributions from a diverse array of international institutions, including the likes of the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), The British International Investment (BII), the Dutch Entrepreneurial Development Bank (FMO), the International Financing Corporation (IFC), Egyptian American Enterprise Fund (EAEF), and the Belgian Investment Company for Developing Countries (BIO).
A consortium of Egyptian investors, including prominent banks and other investment institutions, has thrown their weight behind this venture.
Established in 2018 by Karim Khashaba, Yasser Abdel Gawad and Sherief El-Feky, the healthtech startup helps doctors to generate e-prescriptions, enabling insurance companies to seamlessly automate real-time approvals, and ensuring the prompt delivery of medications to patients' doorsteps.
Yodawy has integrated with top health insurance providers, currently catering to an impressive clientele of 35 payers, over 800 corporates, 20 hospitals, and more than 30 clinics in the market.
Bolstered by a robust network of 3,000 pharmacies nationwide, the company serves both chronic and acute patients and has processed a staggering 6 million prescriptions since its inception.
Ezdehar's injection of capital into Yodawy is earmarked for fueling the company's growth plans, including the expansion of its client base and the enhancement of its tech-enabled prescription fulfillment capabilities.
Noteworthy milestones in Yodawy's funding journey include $16 million raised in 2023[2] during the first close of its Series B round, co-led by Delivery Hero Ventures and Global Ventures, with participation from AAIC Investment and returning investors MEVP, C-Ventures, and P1 Ventures.
In 2019, the platform secured $1 million in Series A funding[3], led by Egypt’s leading VC, Algebra Ventures, and CVentures.