Bayzat, a Dubai, UAE-based provider of insurance and HR solutions in the Middle East, secured an additional $5M in funding.
The round, which brings Bayzat’s total funding in this Series A-1 to over $8m, was led by Silicon Badia, with participation from Beco Capital and Hamed Kanoo Co.
The company intends to use the funds to continue to accelerate growth and product development in 2018.
Launched in 2015 by Talal Bayaa, CEO, and Brian Habibi, Bayzat provides insurance and HR solutions in the Middle East North Africa (MENA) region. With a presence in the current insurance landscape, Bayzat has started increasing its efforts to refining its HR automation platform, called Bayzat Benefits, which gives users the ability to extract important information (from passports of Emirates IDs) directly from scanned images.
Bayzat’s latest addition, payroll, aims to streamline a pivotal area for finance and HR management. Employees uploaded onto Bayzat Benefits’ will have their salary and commission information stored and configured automatically, allowing finance and HR professionals to allocate more time to their other responsibilities.