News

Qashio And YallaCompare Launch “Qashio Insurance”

The platform is a trailblazing Digital Health Solution for SMEs that aims to reduce costs and improve efficiency.

Published

8 months ago

December 7, 2023

Nour Nasir

Qashio

Qashio, a fintech company that provides an expense management and corporate card platform, is launching “Qashio Insurance” in partnership with YallaCompare. The branded health insurance product is a cost-effective solution with a simplified and automated digital declaration process, which takes under a minute to complete.

Qashio Insurance is the only digital-first health insurance package for SMEs of all sizes, from freelancers to 25,000-employee corporations. The platform enables applications to be processed ten times faster than conventional methods, many of which still rely on paper and physical signatures.

In addition to improved efficiency, Qashio Insurance offers up to 25% more affordable rates compared to the rest of the market. The platform has three tiers of coverage, allowing businesses to find the right plan to suit their unique needs, as well as an installment payment option.

Armin Moradi, Co-founder and CEO of Qashio said, “Qashio is privileged to be able to support the growing SME sector with Qashio Insurance, further simplifying otherwise complicated and lengthy processes. Qashio’s mission is to empower SMEs with a streamlined, cost-effective way to manage their health insurance needs. The platform that has taken close to a year to develop is a testament to our dedication to innovation and our unwavering support for SMEs as well as Enterprises”.

Also Read: How (And Why) To Start A Tech Business In Dubai

Luke Craven, CCO of YallaCompare, added, “The launch of Qashio Insurance represents a significant milestone in our journey to provide comprehensive, user-friendly, and efficient services. Our partnership with Qashio embodies the synergy of expertise and shared vision”.

The MENA health and medical insurance market is currently undergoing significant growth. Driven by an expanding population and demographic shifts, the UAE now has over 557,000 SMEs, all of which must provide health insurance to employees and their dependents.

Related Topics:FinTech Qashio YallaCompare

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News

Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

1 day ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.