In the rapidly digitizing world, Sehatech, an emerging health insurance startup from Egypt, has successfully clinched funding of $850,000. This financial boost comes courtesy of A15 and Beltone Venture Capital, a subsidiary of the Beltone Holding Company. Sehatech’s primary objective is to harness its unique technology to streamline and digitize the interactions between insurance companies and healthcare providers. This includes processes like claim submissions and approval management, often termed third-party administration (TPA) within the healthcare sector.
Sehatech was brought to life in 2022 by founders Mostafa Tarek, Mohamed Elshabrawy, and Omar Shawky. Their vision was to automate critical processes such as medical approvals, claims handling, and billing cycles. This not only ensures efficiency for insurance companies but also aids in curbing fraudulent activities.
Mohamed Elshabrawy, the CEO and co-founder of Sehatech, expressed his enthusiasm about the partnership with A15 and Beltone Venture Capital. He emphasized the transformative potential of digitizing the TPA sector, which can revolutionize how millions access healthcare services, making it more affordable and accessible.
The newly acquired funds will be channeled toward expanding Sehatech’s team and refining its product offerings.