SehaTech raises $1.1 million to expand health insurance platform
Ingressive Capital leads investment in healthcare technology startup
#Egypt #funding - Cairo-based insurtech company SehaTech has raised $1.1 million in a Seed funding round, bringing total capital raised to $2 million, to advance its AI-driven health insurance platform across Egypt and emerging markets. The round was led by Nigerian venture capital firm Ingressive Capital with participation from Egyptian venture capital provider Plus VC, strategic angel investors and existing backers including Egyptian venture capital firms A15 and Beltone Venture Capital. Founded in 2022 by Mostafa Tarek, Mohamed Elshabrawy and Omar Shawky, the startup offers a full-stack, AI-centred proprietary platform that automates workflows between insurers and healthcare providers.
SO WHAT? - SehaTech is already backed by the venture capital arm of fast-growing Cairo-based financial services provider Beltone Holding (EGX: BTFH.CA). Investing heavily in its own digital transformation, earlier this year Beltone launched its own specialised subsidiary to develop enterprise AI solutions. Meanwhile, Belone Venture Capital has focused on ecommerce, technology platforms and advanced mobility investments. SehaTech is the VC’s first healthtech investment. In common with many of its other investments SehaTech aims to help companies reduce friction in its sector, reducing administration, corruption and barriers to expansion for health insurance companies.
Here are some key details about SehaTech’s fund raise:
Cairo-based insurtech company SehaTech has raised $1.1 million in a Seed funding round led by Nigerian VC Ingressive Capital, with participation from Plus VC, strategic angel investors and existing backers including Egyptian venture capital firms A15 and Beltone Venture Capital
SehaTech’s digital platform leverages AI and a sophisticated rule-based engine to streamline approvals, claims and payments, reducing fraud and manual errors whilst providing transparent and efficient experiences for insurers, healthcare providers and patients.
The seed funding will support team expansion, regional growth beyond Egypt, and development of advanced AI automation tools to scale operations..
Ingressive Capital, the lead investor, is a venture capital firm focused on African technology startups with operations in Nigeria and the United States.
SehaTech addresses a systemic challenge around low health insurance penetration in Egypt and many regional markets, where operational friction and high administrative costs have limited expansion.
The company aims to automate medical approvals, claims processing and the billing cycle, saving insurers time and expenses whilst preventing fraudulent practices that inflate costs.
Founded in 2022, SehaTech has developed proprietary technology that automates workflows between health insurance companies and medical service providers, eliminating operational inefficiencies that have historically constrained the sector’s ability to scale coverage.
ZOOM OUT - Egypt’s health insurance sector has undergone significant regulatory and structural changes over the past five years as the government implements universal health coverage reforms aimed at expanding access beyond the estimated 60% of the population currently without formal health insurance. The country launched the Universal Health Insurance Law in 2018, establishing a framework for gradual nationwide coverage expansion beginning with specific governorates. Several Egyptian healthtech startups have raised funding over the past two years, amid growing investor recognition that new technology solutions are vital for scaling access in Egypt’s healthcare market.
[Written and edited with the assistance of AI]