Klaim Secures $26 Million To Transform MENA Healthcare Payments

(MENAFN- The Arabian Post)

UAE-based healthcare payment solutions provider Klaim has successfully secured $10 million in Series A equity funding, supplemented by an additional $16 million financing fund, to drive its regional expansion and transform the healthcare financial landscape in the Middle East and North Africa region.

Founded in 2019, Klaim has rapidly positioned itself as an innovative force in the fintech sector, offering a cutting-edge payment platform that leverages artificial intelligence and extensive data analytics. The company's technology predicts insurance payment behaviors, enabling faster and more efficient processing of healthcare claims. This advancement addresses a critical challenge in the healthcare industry, where prolonged payment cycles often strain providers' cash flows.

The Series A funding round was led by Mad'a Investment, a Saudi venture capital firm, with notable participation from CDG Invest, the investment arm of Morocco's Deposit and Management Fund. This substantial investment is set to bolster Klaim's mission to expedite medical insurance claim payments and enhance cash flow for healthcare providers across the MENA region.

Klaim plans to utilize the newly acquired funds to expand its footprint in the UAE and deploy capital in Saudi Arabia, Oman, and other regions. The company aims to continuously refine its technology to better serve healthcare providers, ensuring they can focus on patient care without financial uncertainty.

In 2024, Klaim announced a strategic milestone in its expansion into Saudi Arabia through a collaboration with Tharawat Tuwaiq Financial Company, an asset manager and financial advisor licensed by the Saudi Capital Market Authority. As part of this collaboration, Tharawat Tuwaiq successfully obtained approval and launched a healthcare private closed-ended financing fund valued at SAR60 million . This fund aims to enhance access to working capital solutions tailored to the healthcare sector's unique needs.

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The first transaction under this initiative is set to take place in March 2025, further strengthening Klaim's commitment to empowering healthcare providers with innovative solutions. Additional funds within this program are expected to be introduced in the second half of 2025, reinforcing long-term support for Saudi Arabia's healthcare ecosystem.

Klaim's co-founder and CEO, Karim Dakki, expressed enthusiasm about this development, stating that securing Series A funding is a significant validation of the company's vision and business model. He emphasized that this investment marks a critical inflection point, enabling Klaim to scale rapidly and deliver seamless, efficient payment solutions that allow healthcare providers to focus on patient care without financial uncertainty.

Co-founder and Global Chief Revenue Officer, Ghafoor Ahmad, highlighted that Klaim is now expanding its focus to enterprise healthcare systems. This strategic shift aims to enable larger providers and hospital networks to access payments within 24 hours, empowering not only small and mid-sized providers but also large healthcare groups that require seamless, reliable financial solutions to support operational growth.

Nawfal Fassi Fihri, Managing Director at CDG Invest, praised Klaim's founders for their visionary approach, combining industry expertise with technological innovation to build a solution that addresses a critical gap by solving cash flow problems for medical practitioners. He expressed confidence that Klaim's solution will scale across different healthcare systems, both locally and regionally, including Morocco.

Klaim's innovative approach to healthcare payments is poised to revolutionize the industry by providing expedited access to cash flow, thereby addressing a critical challenge that has long impeded operational efficiency. With the fresh funding, Klaim is well-positioned to accelerate its efforts in delivering seamless, efficient payment solutions, allowing healthcare providers to focus on patient care without financial uncertainty.

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