Bayzat, the insurance and HR technology start-up based in the UAE, has closed a $3.5m funding round led by BECO Capital. The company was founded two years ago and provides products for managing health insurance through computers and mobile devices. BECO said the new funding would be invested in new products to expand the company's headcount. A version of this article appeared in the print edition of The Straits Times on February 16, 2017, with the headline 'UAE firm buys US healthcare startup'.
Bayzat, the insurance and HR technology start-up based in the UAE, has closed a $3.5m funding round led by BECO Capital. The company was founded two years ago and provides products for managing health insurance through computers and mobile devices. BECO said the new funding would be invested in new products to expand the company's headcount. The profits of UAE-based insurers have been boosted this year by the introduction of Dubai's compulsory insurance scheme.