UAE-based tech startup Bayzat, which offers insurance and HR solutions, has just secured their second $3 million funding.
Dubai-based entrepreneurs Talal Bayaa and Brian Habibi have just raised $3 million in funding for their startup Bayzat, a cloud-based startup that automates administrative work for HR professionals, dubbed by the entrepreneurs "your friend with benefits."
The fund, from an undisclosed investor, comes as the second $3 million investment the company secures in less than a year. In November 2016, they managed to close a $3.5 million funding, led by returning investor BECO Capital and Precinct Partners in Dubai.
“People who are interested in supporting technology startups in promising sectors see Bayzat as a unique opportunity and a forerunner in the arena," said co-founder and CEO Bayaa, in an interview with Menabytes. "Moreover, with recent government motions to make insurance mandatory for employees and their dependents, there has been an influx in the demand for insurance solutions like Bayzat, making it a relevant company to choose to invest in.”
The co-founders, originally high school friends, have launched two branches of services: insurance, which aims to help individuals and companies buy health insurance by offering a transparent comparison for all options. As for their HR solutions branch, they help automate all the administrative work for HR professionals, which ensures that their processes are centralised, secure, and accessible.
With a growing clientele base, including names like Propetyfinder.ae, S’wich, Deliveroo, Mumzworld, and Fetchr - which recently raised a staggering $41 million investment, the startup has been featured by Forbes Middle East and managed to connect over 12,000 individuals in the region to healthcare insurance.
Photo: Forbes Middle East
Sign up for the daily Startup Digest.