UAE-based insurance and HR technology start-up Bayzat has raised $3 million in new funding.
The investment follows $3.5 million raised by the firm in November last year in a round led by BECO Capital.
The company did not specify the source of the new 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, 29, 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 percent 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 from 12 to more than 50 employees to support its expansion efforts this year.
By Robert Anderson
