Egypt-based health insurtech Sehatech has raised a US$850,000 round of funding to help it grow its team and further develop its product.
Founded in 2022 by Mostafa Tarek, Mohamed Elshabrawy and Omar Shawky, Sehatech aims to automate medical approvals, claims processing and the billing cycle, saving insurers’ time and expenses while preventing fraudulent practices.
The startup has secured US$850,000 in funding from A15 and Beltone Venture Capital, a subsidiary of Beltone Holding Company, to drive its mission of leveraging proprietary technology to digitise and automate the relationship between insurers and healthcare service providers, including claim and approval management processes, commonly known as third party administration (TPA) in the healthcare industry.
“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,” said Mohamed Elshabrawy, founder and CEO of Sehatech. “Digitising 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