AI healthcare payment platform nets $26 million funding
Klaim funding to help accelerate insurance claims for MENA healthcare providers
#UAE #funding - UAE-based healthcare fintech Klaim has secured $26 million in funding to transform medical payments across the Middle East. The funding comprises $10 million in Series A equity led by Riyadh investment firm Mad'a Investment, plus a $16 million financing fund formed with Saudi Arabia's Tharawat Tuwaiq Financial Company. Klaim's AI-powered platform accelerates medical insurance claim payments, allowing healthcare providers to access funds within 24 hours rather than face typical payment delays.
SO WHAT? - Payment details are a critical pain point in healthcare finance where prolonged payment cycles create cash flow challenges for healthcare providers. By leveraging AI to predict insurance payment behaviours, Klaim's technology helps eliminate financial uncertainty, which risks compromising operational stability and patient care quality. The new funding will allow Klaim to accelerate efforts in delivering seamless, efficient payment solutions that help remove financial uncertainty and allow healthcare providers to focus on patient care.
Here are the key points about this funding announcement:
UAE-based Klaim has announced $26 million in new funding to transform medical insurance payments. The funding consists of $10 million from a successful Series A round equity led by Saudi investment firm Mad'a Investment, and an additional $16 million financing via Riyadh-headquartered Tharawat Tuwaiq Financial Company.
Klaim’s AI-powered platform uses advanced data analytics to predict insurance payment patterns, enabling healthcare providers to receive payments within 24 hours instead of waiting weeks or months.
The $10 million Series A round led by Mad'a Investment with participation from CDG Invest, the investment arm of Morocco's Deposit and Management Fund, validating Klaim's business model.
Tharawat Tuwaiq has secured approval for a SAR 60 million (approximately $16m) healthcare financing fund, with first transactions expected this month (Mar-25).
The new funding will fuel Klaim’s expansion beyond small and mid-sized providers to serve enterprise healthcare systems and hospital networks, indicating market validation of their solution.
The company plans to strengthen its presence in the UAE expand in Saudi Arabia and Oman, and accelerate product development.
Last year, Klaim announced a collaboration with Tharawat Tuwaiq Financial Company, an asset manager and financial advisor licensed by the Saudi Capital Market Authority (CMA). As part of the collaboration, Tharawat Tuwaiq obtained approval and launched a healthcare private closed-ended financing fund.
Tharawat Tuwaiq’s fund aims to enhance access to working capital solutions for the healthcare sector.
Founded in 2019, Klaim has positioned itself as an innovative force in fintech, specifically addressing the healthcare sector's unique financial challenges.
ZOOM OUT - The healthcare fintech sector is experiencing rapid growth globally as digital transformation revolutionises traditional payment systems. The Middle East and North Africa (MENA) region presents a fertile ground for innovation in the health and medical insurance ecosystem, having both a fast-growing market and an appetite for new technology solutions. According to Mordor Intelligence, gross written insurance premiums value for MENA is expected to grow from $18.47 billion in 2025 to $25.64 billion by 2030, at a CAGR of 6.78% over that period.
[Written and edited with the assistance of AI]
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Presight wins multi-million dollar Jordan AI contract (Middle East AI News)
New Saudi AI model to advance radiology diagnosis (Middle East AI News)
M42 releases new versions of clinical LLM (Middle East AI News)