• Baseeta’s platform combines health-tech and fintech to bring to patients an innovative financial solution that enhances the population’s immediate access to otherwise unaffordable medical procedures.

Cairo, Egypt: Elevate’s latest investment in startup company, Baseeta for Digital Solutions, aims 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.

Led by an exceptional team, the company’s management includes Baseeta’s Chairman, Medhat Khalil, a veteran in the technology investments space as the Chairman and CEO of Raya Holding, an Egypt-based investment conglomerate boasting over 12 thousand employees and generating more than EGP 8 billion in revenues. Serving as Baseeta’s CEO, Ayman Seoudi is an experienced banker and financier with nearly two decades of experience at leading commercial banking institutions, such as CIB and Credit Agricole. Elevate Capital founder and CEO, Tarek Moharram, will serve as a non-executive board member, contributing his expertise having been responsible for the performance leap of diagnostics leader, Nile Scan & Labs, which has grown consistently over the last decade to record a top-line CAGR of 36% and operate 18 state-of-the-art facilities across Egypt. Mohamed Moharram, Strategic Business Development Director and Board Member of Elevate with more than 19 years of finance, business development, institutional sales and healthcare operations experience between London and Cairo, will also serve as a non-executive board member of the new venture.

Mohamed ran the lab segment at Nile Scan & Labs, growing the business unit over the last 8 years to become a market leader, both locally and regionally. Hend Khalil also joins Baseeta as a non-executive board member and brings extensive marketing, customer care & managerial experience. Hend has taken on several senior roles including Head of Marketing, Brand Management and General Management at leading companies such as AMAN for E-payments, Henkel and PRE-Investment, also currently Board member at AMAN Holding. Noha Hassouna also joins the Baseeta team as a non-executive board member with over 12 years track record in the telecom industry growing revenues, building brands and developing products for Egypt’s largest telecom operator, Orange Egypt. Noha now works with Dsquares, managing their portfolio of local and international clients to grow their business and hit the mark with their loyalty objectives.

“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,” added 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”.

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,” added 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.”

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.

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About Elevate Capital

Elevate Capital is a strategic investment management company dedicated to creating value through a combination of carefully crafted investment structures. Elevate’s proprietary reach to deal organization and structuring with its impact driven approach produces investment that are resilient to change. We work with management teams worldwide to deliver both financial and sustainable returns to all stakeholders.

At Elevate Capital, in addition to strategic management guidance, through our post-integration team, we offer a full array of value creation strategies for our portfolio companies. Across our ventures, we unlock both vertical and horizontal synergies through the optimization of the value chain allowing our investments rapid growth through both organic and planned expansion strategies.

We believe it is our responsibility to ameliorate the lives of the communities we serve by enriching the standards of social sector industries, including healthcare, education, and financial services. We built policies and strategic ESG considerations that create a wealth of sustainable progress while promoting robust financial returns.