Health insurance startup SmartCare nabs $1.2m from EAEF

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Egypt-based SmartCare, a provider of online medical care programmes, has received $1.2m backing from the Egyptian-American Enterprise Fund (EAEF).

The company will use to fresh capital to further develop its technology infrastructure and bolster its team.

Founded in 2009, SmartCare is looking to improve the accessibility and affordability of health insurance in Egypt.

The company works with corporate health plans but also provides individual products to consumers who do not have health cover from a company.

In order to be able to provide a variety of products suited for the needs of different customers, SmartCare uses both managed care programmes and third party administration among others.

The company is led by founder and CEO Amr Tayeb.

The EAEF is focused on Egypt’s private sector, aming to support the creation of new jobs, the improvement of the quality of life as well as to promote financial inclusion in the country.

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