FinTech Startup Seeking Loan in Cairo, Egypt

Micro-financing for patients to pay for medical services in installments specially for dermatology, dental and bariatrics.
This Business is on a Premium Plan
Established
Employees
Legal Entity
Reported Sales
Run Rate Sales USD 240 thousand
EBITDA Margin 30 %
Industries FinTech
Locations  Cairo
Local Time 2:16 PM Egypt
Listed By Business Owner / Director
Status Active
Overall Rating
Seeking Loan
USD 100 thousand for 12.0% annual interest, 2 years (Native Currency: USD 100,000)
Reason: Scaling business and increasing revenue.
Collateral Available: USD 100 thousand
Includes physical assets worth USD 100 thousand
Interested to connect with advisors
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Business Name
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Business Overview

Startup offers financial support to patients who undergo surgery related to dermatology, dental and bariatrics. When a patient visits a clinic, we make the entire payment for the surgery and then the patient pays us back in installments within 12 months. We have established tie-ups with clinics in Egypt who promote our service to the patients. Since we are a startup, we promote our brand and financial services through social media marketing and cold calls. We do not require any special regulatory approval / license to conduct our business activity.

Before offering our financial support to a patient, we do a complete background verification and legal checks including income, bank balance, identity and address. We sign a legal agreement with each patient. Since inception, we have received enquiries from 100 patients of which 4 patients have used our financial service. We currently have 30 clinics in our network but our business has the potential to on-board more than 2,000 clinics.

We are currently managing the entire operations manually and are in the process to develop a mobile app to streamline the operations. In order to generate revenue, patients as well as the clinics are charged 10-20% commission. In addition, clinics are also charged a yearly subscription fee.

Our startup is yet to be registered. We are currently billing customers in the parent company's name. After raising funds, we would register the startup under a new legal entity. Founder of the business has 5 years of experience in software and healthcare industry. We have raised capital of more than USD 150K.

Products & Services Overview

Providing loans to patients who undergo cosmetic operations.

Assets Overview

Our office, computers, laptops, furniture and systems.

Facilities Overview
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Disclaimer: SMERGERS is a regulated marketplace for connecting business sell sides with investors, buyers, lenders and advisors. Neither SMERGERS represents nor guarantees that the information mentioned above is complete or correct.
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