Egyptian insurtech startup Nice Deer raises $1m pre-seed round

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Published: 2022-06-13
Nice Deer, an Egyptian <strong>insurtech</strong> business, has successfully raised $1 million in pre-seed funding.

A pre-seed investment round to the tune of one million dollars was completed by the Egyptian insurtech startup Nice Deer in order to assist the company in meeting its goal of offering health insurance services to small and medium-sized businesses.

Nice Deer was established at the beginning of 2018, and its mission is to facilitate insurance and the reimbursement of insurance claims in order to close the gap that exists between health care providers, health insurance companies, and beneficiaries.

This new business makes use of a platform with a single point of access in order to connect suppliers of medical services with insurance companies and to simplify communication between patients and their physicians. Additionally, it makes the process of approving and distributing prescription, radiology, and scan requests much simpler.

Nice Deer will utilize the proceeds from its $1 million pre-seed round, which was led by Disruptech Ventures, to assist small and medium-sized enterprises (SMEs) in obtaining innovative health insurance options, such as health savings accounts. Because of these new products, workers will be able to take use of health insurance benefits and pay for a variety of medical and wellness services.

"Nice Deer aims to become the helping arm of the insurance industry in Egypt to grow smoothly and work to close the gap between providers and beneficiaries through a number of pioneering medical services and solutions in line with the unified insurance law," Mustafa Medhat, the CEO of Nice Deer, said. "Nice Deer aims to become the helping arm of the insurance industry in Egypt to grow smoothly and work to close the gap between providers and beneficiaries through a number of pioneering medical services and solutions."

As a founding partner of Disruptech, Malek Sultan expressed his satisfaction with the company's investment in Nice Deer.

" We believe that Nice Deer will be in good form to support the Egyptian government's efforts to raise the number of beneficiaries of private health insurance in Egypt. In particular, we are referring to the plan to increase the number of people covered by private health insurance in Egypt. According to him, "Nice Deer will use its vast network of health care providers and TPAs to target new sectors, particularly the small and medium-sized businesses."