Sehatech, an Egyptian health insurance startup, has raised $850,000 in funding to expand its staff and advance its product.
Mostafa Tarek, Mohamed Elshabrawy, and Omar Shawky established Sehatech in 2022 with the goal of automating medical approvals, claims processing, and the billing cycle to save insurers time and money while preventing fraud.
In order to advance its goal of using 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, the startup has secured US $850,000 in funding from A15 and Beltone Venture Capital, a subsidiary of Beltone Holding Company.
“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.”