UAE insurance start-up Bayzat raises $3m

The investment follows a $3.5m funding round in November



UAE-based insurance and HR technology start-up Bayzat has raised $3m in new funding.

The investment follows $3.5m raised by the firm in November in a round led by BECO Capital.

Read: UAE insurance tech start-up Bayzat closes $3.5m funding round

The company did not specify the source of the latest funding.

“People who are interested in supporting technology start-ups in promising sectors see Bayzat as a unique opportunity and a forerunner in the arena,” said Talal Bayaa, CEO and co-founder of Bayzat.

Bayzat said it has connected 12,000 users with health insurance and receives more than 50,000 monthly visits with 350 per cent revenue growth per annum.

It has also seen growing interest in its human resource management system with local clients including MacKenzie Jones, Deliveroo, Fetchr, MumzWorld, Al Al Alali, Manóushe Street, Bayut and Propertyfinder.ae

The firm has expanded its workforce form 12 to more than 50 employees to support its expansion efforts this year after raising $7.5m over the last 24 months.

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