Pakistan-based telemedicine startup, Find My Doctor, announced that it has raised funds in a Pre-Series A round from both TPL e-Ventures, the investment arm of TPL Corp, and TPL Insurance, at a $5 million valuation. The startup plans on opening dark stores, improving its technology, and hiring new talent via the newly acquired funding.
Find My Doctor currently offers its services in Karachi, Lahore, Islamabad, Rawalpindi, Multan, Peshawar, and Hyderabad. The startup plans to enter ten more cities by the end of 2022.
Founder & CEO Find My Doctor, Saad Siddiqui, commented, “We are thrilled to achieve this milestone and will be scaling our operations significantly while experimenting with new products and services. Luckily, we now have the team in place as we have hired our leaders from Tesla, Bykea, and an insurance startup.”
CEO TPL Insurance, Muhammad Aminuddin, also stated, “Being Pakistan’s leading Insurtech, TPL Insurance continually utilizes the digital paradigm to disrupt the insurance industry. Our efforts are singularly focused on making insurance easier and accessible for all, as we look forward to building upon the same vision, set forth by Find My Doctor.”
The transaction is subject to the successful completion of certain conditions and regulatory processes.
Apart from core tech, the Healthtech app plans on improving its insurance-related services, supported by TPL Insurance, one of the largest retail insurance providers in Pakistan. Although insurance is critical to healthcare services around the world, in Pakistan, it is yet to cover the wider population, leaving room for substantial growth for any entity which can offer reach and affordability. Find My Doctor aims to offer innovative features to the general public as well as the corporate sector to make insurance easier to enroll and benefit from.
The healthcare sector continues to experience an exponential volume of traffic due to the COVID-19 pandemic. However, the nature of the pandemic highlighted the various inefficiencies of physical healthcare infrastructures, one of them being the inability to cater to large crowds safely and quickly. Telehealth and doorstep services, on the other hand, proved to be quick, safe, convenient, and efficient. With 250,000 satisfied customers, 90,000 lab tests, 400,000 doctor visits, and more than 150 partnerships Find My Doctor is an upcoming leader amongst healthcare apps in Pakistan.
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