Nice Deer, Egypt’s Insurtech startup, raises $1m in a pre-seed round

Nice Deer, Egypt’s Insurtech startup, raises $1m in a pre-seed round

Nice Deer, Egypt-based InsurTech startup, raises $1 million in a pre-seed funding round led by DisrupTech Ventures.

It was founded in 2022 and currently operates in Egypt. The startup aims to bridge the gap between health care providers, health insurance companies and beneficiaries by facilitating insurance and repayment of insurance claims.

It uses a one-window platform to connect medical service providers with insurance companies and facilitates communication between doctors and patients.

“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, CEO of Nice Deer, said.

The startup also facilitates the approval & disbursement of medication, radiology & scan requests, taking into account the requirements of insurance documents and not exceeding the maximum disbursement limits for each beneficiary.

“We are very proud of Disruptech’s investment with the Nice Deer founding team. We believe Nice Deer will be in good shape to support the Egyptian governmental plans to increase the number of beneficiaries of the private health insurance in Egypt. Nice Deer will use its extensive network of health care providers and TPAs to reach new sectors, especially the small and medium-sized businesses (SMEs),” Malek Sultan, Founding Partner of Disruptech VC, said.

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