Arab Finance: Egypt-based insurtech company SehaTech has raised $1.1 million in a seed funding round, bringing its total funding to $2 million, as per an emailed press release.
The round was led by Ingressive Capital, with participation from Plus VC, a group of angel investors, and existing investors A15, Beltone Venture Capital, and an industry veteran.
SehaTech develops a full-stack platform that uses artificial intelligence and a rule-based system to automate health insurance workflows, including approvals, claims, and payments.
The platform is designed to reduce administrative inefficiencies, limit fraud and errors, and improve coordination between insurers and healthcare providers.
The company also addresses low health insurance coverage in Egypt and other markets in the region by providing technology that supports more efficient and accessible insurance administration.
With the new funding, SehaTech plans to expand its team, grow its operations in Egypt and other markets, and further develop its platform with additional AI and automation tools.