UAE's Klaim obtains $26 million in Series A funding to accelerate insurance claim payouts for healthcare service providers
Healthcare Fintech Startup Klaim Secures $26 Million Funding for Expansion
Klaim, a UAE-based healthcare fintech startup, has announced that it has raised $26 million in funding to expand its operations and improve healthcare finance across the MENA region.
Founded in 2019 by Karim Dakki and Ghafoor Ahmad, Klaim addresses a critical challenge in healthcare finance by accelerating medical insurance claim payments. The startup enables healthcare providers to access payments within 24 hours of claim submission, significantly reducing the typical payment cycle of 60-90 days.
The funding round was led by Saudi-based Mad'a Investment, with participation from CDG Invest, the investment arm of Morocco's Deposit and Management Fund, and other undisclosed investors. The fresh capital will be used to expand Klaim's operations across the MENA region, with a particular focus on the UAE, Saudi Arabia, and Oman.
Klaim's technology prioritizes smarter payments and AI-powered claims processing to reduce delays and improve patient care. The startup aims to attract regional and international investment, including partnerships with firms like AlKhair Capital targeting up to $50 million deployment in healthcare financing initiatives.
The expansion is supported by Dubai's regulatory and financial infrastructure, enabling Klaim to serve multiple GCC markets through Sharia-compliant investment products. Klaim's growth aligns with regional government priorities in the fast-growing MENA fintech and healthcare sectors.
Larger providers and hospital networks can now access payments within 24 hours through Klaim. The startup currently operates in the UAE and Saudi Arabia with offices in Dubai, Abu Dhabi, and Riyadh.
While regulations require claims to be paid within 45 days after submission, the typical payment cycle takes 60-90 days. Klaim's expansion comes through a collaboration with Tharawat Tuwaiq Financial Company in Saudi Arabia.
Ghafoor Ahmad, co-founder and global chief revenue officer at Klaim, made the statement about the expansion. No new information about the use of the fresh capital or technological capabilities is provided in the paragraph. However, the funding will help Klaim extend its footprint across the MENA region's growing healthcare fintech ecosystem.
- The business expansion of Klaim, a healthcare fintech startup, will involve leveraging technology to improve their AI-powered claims processing and smarter payments, aiming to reduce delays and enhance patient care.
- The funding secured by Klaim will not only be used to extend their operations across the MENA region, focusing on countries such as the UAE, Saudi Arabia, and Oman, but also to attract investment and establish partnerships with firms like AlKhair Capital in healthcare financing initiatives.
