UAE-based fintech platform, KLAIM has raised $1 million in Seed investment from TechStars and a group of strategic regional investors, which it plans to grow its presence in the UAE and expand its operations to Saudi Arabia by H1 2021.

Founded by Karim Dakki, Ghafoor Ahmad and Meriem Tamarzizt, KLAIM is a software as a service (SaaS) fintech platform aimed at healthcare providers to help minimise their revenue losses due to delayed and rejected payments from insurance companies and predict cash flows by streamlining the medical billing processes.

“Our goal is to improve the quality of the medical care you are receiving,” said Dakki, CEO at KLAIM, explaining that the pandemic has put enormous stress on the healthcare system globally.

“It is fairly shocking to see that healthcare providers have to wait up to six months to get paid for the services they deliver to us,” he said. “When healthcare providers are limited by unpredictable cash flow, they are unable to pay highly qualified professionals, reducing the quality of the medical care we all receive. Yes, it's impacting the providers, but indirectly it's impacting every one of us.”

According to its founders, KLAIM‘s goal is to become the leading one-stop-shop specialised healthcare payment network or the "Stripe / Paypal" of healthcare.