Nice Deer, Egypt’s leading health InsurTech startup, has secured approval to launch Nice Deer for Financial Solutions, the country’s first fully digital non-banking financial institution (NBFI) focused on factoring deferred medical insurance claims.
The Financial Regulatory Authority (FRA) granted the licence on Tuesday, enabling Nice Deer to offer structured, real-time financing to medical service providers burdened by delayed payments from insurers and third-party administrators (TPAs). The move aims to address critical liquidity shortages across Egypt’s healthcare ecosystem.
“This licence is more than just an operational milestone,” said Engy Shalash, co-founder and chief marketing officer of Nice Deer. “It’s a pivotal step toward creating a more agile and efficient model within the health insurance system. We’re not just financing, we’re resetting the market’s tempo in favour of every provider who has long waited for their dues. Smart financing builds a faster, fairer economic cycle for the entire ecosystem.”
EGP 500 million in medical claims
Nice Deer hopes to factor in EGP 500 million in medical claims in the first two years of operation, given that Egypt’s medical insurance market is worth over EGP 300 billion annually.
Healthcare providers are still heavily burdened financially by insurance companies’ and Third-Party Administrators’ (TPAs’) late payments. This not only affects service quality and prevents providers from joining insurance networks, but also contributes to the low insurance penetration rate nationwide.
This issue is resolved by Nice Deer’s digital factoring platform, which provides immediate liquidity and is supported by its in-house AI-powered credit scoring engine that examines utilisation trends, medical approvals, and real-time claims data.
“Financing is no longer a secondary option in the health insurance ecosystem; it’s a strategic necessity,” said Mostafa Medhat Hussien, CEO of Nice Deer. “Providers have long suffered from the time gap between service delivery and revenue collection, often forcing them to treat insurance patients differently from cash patients. Our platform uses integrated AI intelligence to assess risk with precision, streamline factoring decisions, and deliver a scalable, secure financial model, laying the foundation for a value-based healthcare system that prioritises both better patient outcomes and provider sustainability.”
Goal of Nice Deer
The goal of Nice Deer is more than just providing financial liquidity. To solve long-standing inefficiencies and promote long-term sustainability, the company is actively constructing a new financial infrastructure for Egypt’s healthcare industry.
Nice Deer wants to increase insurance penetration across the country, improve cash flow for medical service providers, and turn credit-based, delayed transactions into instant cash settlements through its digital platform. By doing this, it aims to encourage more providers to join payer networks and help develop a stronger healthcare system that focuses on value, using smart, data-based financial tools.