The SaaS fintech startup’s work in the healthcare sector has made it an attractive cause for Saudi’s massive market.
UAE-based fintech startup, KLAIM, has raised $1 million in a seed round, which it intends to channel into expanding its services across UAE and into Saudi Arabia throughout 2021. As a software as a service (SaaS) platform, KLAIM targets healthcare providers with the means to handle delayed or rejected payments from insurance companies, and streamline medical billing. In doing so, they help healthcare providers minimise revenue losses and get a firmer grasp on cash flows.
“Our goal is to improve the quality of the medical care you are receiving,” said KLAIM CEO Karim Dakki, who founded the company with Ghafoor Ahmad and Meriem Tamarzizt. "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. 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."
Founded in 2019, hospitals, clinics and pharmacies in Dubai have produced more than 1.5 million transactions on the platform.
Learn more about KLAIM here.