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Elevate’s investment in Baseeta to promote affordable healthcare financing solutions
Elevate Capital, a strategic investment management company, has recently injected investment in startup company, Baseeta for Digital Solutions, with an aim to alleviate the burden of healthcare costs by providing patients with an easy-to-use tech-enabled financing solution.
Baseeta for Digital Solutions is Egypt’s only intermediary financial services company focused exclusively on healthcare services. Baseeta recently launched its consumer finance platform aimed at empowering patients by providing them with access to affordable healthcare financing solutions that best suit their individual and wide-ranging needs.
Baseeta’s technology will allow patients to pay for select medical services in installments, as opposed to traditional one-time upfront payment arrangements.
With the investment in Baseeta for Digital Solutions, Elevate intends to bridge existing healthcare gaps by providing consumers with more accessible healthcare solutions and better financing options.
Baseeta’s onboarding system boasts a tech-driven process that seamlessly creates risk-based offers to ensure appropriate interest alignment between lenders and patients. The system is also integrated with Aman for Financial Services, a leading Egyptian fintech player, to ensure a smooth payment and collection process for patients and healthcare providers.
“Baseeta’s approach provides a win-win solution for both providers and payers of care,” said Mohamed Moharram, non-executive board member of Baseeta. “By making healthcare accessible through our network of financing programs, healthcare providers will be able to generate increased traffic at their medical establishments, and patients will have more financially feasible access to care without high upfront out-of-pocket expenses. We are confident that Baseeta will be able to alleviate financial burdens for those seeking essential quality care and ultimately generate significant socio-economic returns for the nation in the longer term.”
“As demand for innovative fintech and health-tech solutions continues to rise, new opportunities and market gaps present themselves on a regular basis,” said Baseeta CEO Ayman Seoudi. “Baseeta for Digital Solutions was developed with the goal of tackling the inaccessibility of healthcare for lower- and middle-income earners across Egypt by arming them with a platform where they can utilize installment programs for healthcare services throughout our network.”
“A large portion of the Egyptian population is unable to access essential procedures due to the high cost of treatments and lack of insurance coverage,” said Baseeta Chairman Medhat Khalil. “This is where our value-add lies; we believe that quality care should be accessible to all, and we have our eyes set on bridging this gap through our launch of Baseeta”.
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