Klaim, a Dubai, UAE-based healthcare financing solution, raised $1.6 million (€1.4M) in a pre-series A round.
The round was led by Mad’a Investments, a private equity firm in Saudi Arabia. It also received participation from Arzan Venture Capital and Wealth Well and existing backer Techstars, as well as strategic angel investors.
The company will use the funds to drive its growth in Saudi Arabia. Klaim had announced its plans to expand in the country earlier this year after it raised US$1 million in a seed funding round in March.
Company: KLAIM UAE
Round: pre-Series A
Funding Month: September 2021
Lead Investors: Mad’a Investments
Additional Investors: Arzan Venture Capital, Wealth Well, and Techstars
Company Website: https://www.klaim.ai/
Software Category: SaaS medical claim management and financing platform
About the Company: Klaim is an InsureTech platform offering a SaaS medical claim management and financing platform all in one. They provide them with total visibility on their revenue cycle, increase their revenue through reduced claim processing time and errors, and faster payments. Klaim’s solution enables healthcare providers to manage cash flow issues as a result of insurance claims. The company purchases pending healthcare claims from providers to give them access to liquidity. It also provides digitization and automation services for medical bill processing and payments, and real-time analytics and reporting.