Sehatech, an Egyptian health insurance startup, has secured a $850,000 funding round.
The startup has received US$850k in funding from A15 and Beltone Venture Capital, a division of Beltone Holding Company, in order to advance its goal of using proprietary technology to digitize and automate the relationship between insurers and healthcare service providers, including claim and approval management processes, commonly referred to as third-party administration (TPA) in the healthcare industry.
Mostafa Tarek, Mohamed Elshabrawy, and Omar Shawky founded Sehatech in 2022 with the goal of automating medical approvals, claims processing, and the billing cycle to save insurers time and money while eliminating fraud.
Mohamed Elshabrawy, founder and CEO of Sehatech, said, “We are thrilled to have the support of A15 and Beltone Venture Capital in our mission to transform the healthcare industry in Egypt and the broader region. Digitizing the TPA industry will have a significant social impact on how millions of patients consume healthcare services, making healthcare more accessible and affordable for everyone.”
The startup will use the funds to expand its team and continue to develop its product.
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