By September 19, 2018

Moroccan Startup DabaDoc Raises Investment From AXA Insurance Morocco

By September 19, 2018

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Moroccan healthtech enterprise, DabaDoc; a online tech platform which makes it possible for users to find and locate qualified doctors, as well as book appointments, has announced the receipt of investment of an undisclosed amount from top insurer, AXA Insurance Morocco; a company that now also doubles as the startup’s first institutional shareholder.

The infusion of funds into the Moroccan startup is expected to enhance its place in markets where it currently boasts presence, such as Morocco, Algeria, and Tunisia. The injection of capital should also see the startup further develop and fine-tune its products with the needs of the market in mind.

Speaking to WeeTracker with respect to the development, Zineb Drissi-Kaitouni, CEO and Co-Founder of DabaDoc, revealed that the investment deal was closed on 12th September 2018, and by virtue of the specifics of the deal, the Moroccan insurer becomes DabaDoc’s first institutional investor and also gets some of degree of equity in the healthtech startup. She also stated that the investment would help in the development of the startup’s offering while also expanding its reach.

Dabadoc was established in 2014, and since its launch, the startup claims to have facilitated the booking over two million appointments through its online medium. Currently, the startup boasts over 6,000 doctors who are leveraging its services to reach out to patients in such countries as Morocco, Algeria, and Tunisia.

Besides linking up potential clients with qualified healthcare professionals that are closest to them, the startup’s offerings also incorporate perks that assist medical professionals in such aspects managing their practice, storing records securely, optimizing practice to bring about the provision of continuous care and fill in last-minute cancellations, as well as communicate with their patients.

Zineb indicated that the startup is poised to revolutionize the healthcare delivery system. She also hinted that the investment deal which also brings AXA Insurance Morocco on board as a shareholder would serve to boost the efforts of the startup in the area of fostering growth through the democratization of access to quality healthcare.

The CEO can be thought to have a diverse background in finance, having secured a Bachelor’s degree in Finance from Baruch College, New York, and a Masters Degree in the same field from HEC Montreal, Canada. Before she co-founded DabaDoc; an online platform for patients to book appointments with doctors in a few clicks, her professional career is believed to have begun in Wall Street, New York, where she held a position at Goldman Sachs.

“DabaDoc seeks to help hundreds of thousands of doctors in our target market reach patients more efficiently, and also help millions of patients by democratizing access to healthcare and level the playing field in the health marketplace,” she told WeeTracker.

The announcement of the investment deal is coming in the wake of an earlier development which saw DabaDoc launch a teleconsultation service that is designed as a video conference medium through which doctors and patients can communicate more effectively.

On the plans of the business going forward, she offered; “The capital raise will help DabaDoc enhance its footprint in its existing geographies and further develop its offering. We will keep strengthening our partnerships with key healthcare constituencies such as healthcare professionals, hospitals, insurance companies, and pharmaceutical companies. We also hope to further develop our practice management solution for doctors and telemedicine services for patients.”

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