Back to the complete issue
Thursday, 26 May 2022

Wellness startup Esaal closes USD 3 mn seed round

Health and wellness platform Esaal has raised USD 1.7 mn from A15, the startup said in a press release (pdf). The funding marks the final tranche of Esaal’s USD 3 mn seed round, which has been funded entirely by the VC, company CEO and founder Fadi Doss told Enterprise.

About Esaal: Founded in 2018 by Doss (LinkedIn), the company offers clients remote health consultations with some 350 medical professionals in physical health, mental health, and nutrition. Clients can book sessions through its website and app and pay through Fawry, Vodafone Cash, and by credit card.

The company had a solid 2021: The startup’s revenues grew 250% last year, while new users were up 55%, according to the release.

It’s active in eight markets in the Middle East: Esaal operates in Egypt, Saudi Arabia, Tunisia, Kuwait, Qatar, Bahrain, Palestine and Iraq, Doss told us.

And it’s targeting more: The company wants to eventually build a presence in every country in the MENA region, Doss said.

Where the money is going: The startup will use the fresh capital for brand, business, and product development, Doss said, adding that it hopes to add new features including mental health ins.

Esaal wants to address the gap in mental health services: “Our main concern was that a lot of people want to talk about their mental health and wellness, [but] they are still afraid to take action” and seek professional help, Doss told Enterprise. “We thought: Why not create a platform that would put users in touch with medical experts who will take the issue seriously?”

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.