UAE-based claim management platform Klaim has reportedly raised a $1m seed investment to help it grow its presence in the market.
The capital was supplied by seed accelerator TechStars, as well as a range of strategic regional investors, according to a report from Wamda.
With the equity infusion, the InsurTech hopes to grow its presence in the UAE and expand into Saudi Arabia by the end of H1 2021.
The company was founded to help improve the quality of medical care people receive. It does this by improving healthcare providers maximise their revenue.
Klaim CEO Karim Dakki told Wamda, “It is fairly shocking to see that healthcare providers have to wait up to six months to get paid for the services they deliver to us,” he said. “When healthcare providers are limited by unpredictable cash flow, they are unable to pay highly qualified professionals, reducing the quality of the medical care we all receive. Yes, it’s impacting the providers, but indirectly it’s impacting every one of us.”
The company provides healthcare providers with a platform that simplifies claim management, speed up payments and maximise profits. Its key features include submission and resubmission of claims, a real-time analytics dashboard, reporting tools and will soon offer financing options.
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