KLAIM, a UAE-based fintech startup that provides working capital to healthcare providers has closed a $5 million seed round to scale its operations.
- Founded in 2020 by Karim Dakki and Ghafoor Ahmad, KLAIM is a fintech that provides capital to small and midsize healthcare providers to ease their cash flow burden. KLAIM's lending solution is targeted at healthcare providers that are not served by traditional lending businesses.
- In the UAE alone, over 35 small and medium-sized healthcare providers have been part of KLAIM's beta program and currently benefit from KLAIM’s advanced working capital solution.
- Claims payments from insurance companies to healthcare facilities can take anywhere between 60 and 112 days, which directly affects all types of operations of the medical facility.
- KLAIM's innovative products give these providers visibility and freedom to expand their healthcare practice and improve the quality of care they can offer, all without relying on an unpredictable claim reimbursement process that they are very dependent on today.
- The funding round was led by UAE-based VC firm, Knuru Capital, and will go towards supporting KLAIM’s medical claims receivable purchasing solution, which allows healthcare providers to access working capital by selling their insurance claims that are pending payment and typically settled between 60 and 112 days.