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Dubai-based Sheteq raises USD 20 million from lead investor 971 Capital

Dubai: Sehteq, a Dubai-based Health Insurance startup recently secured a $20 million commitment to set up a reinsurance vertical, it announced in a statement to MAGNiTT today. The investment is led by their anchor investor 971 Capital.

Sehteq “ Arabic for your health” is an Oscar-like digital health insurance startup. The company was born at a startup incubator in Ras Al Khaimah in November 2017, and started operations in February 2018 with the acquisition of its first health insurance provider license “ also known as third party administrator TPA”.

The startup grew with 12 subsequent acquisitions and heavily invested in a solid technology platform to be the largest provider of low cost health insurance for individuals and companies in UAE.

Today, Sehteq is amongst the top three health insurance providers in the UAE and ranks ninth on the global insure-tech list, based on funding.

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