Find My Doctor raises Pre Series A from TPL at $5 million valuation, Tesla alum to lead its tech
Find My Doctor announced today that it has raised a Pre Series A funding round from both TPL e-Ventures, investment arm of TPL Corp and TPL Insurance at a $5 million valuation. The funding will be used to open dark stores, improve technology and hire new talent. Find My Doctor currently offers its services in 7 of the largest cities of Pakistan namely Karachi, Lahore, Islamabad, Rawalpindi, Multan, Peshawar, Hyderabad while plans are in place to enter 10 more by the end of 2022.
Apart from core tech, the Healthtech App will be improving upon its insurance-related services, supported by TPL Insurance, which is Pakistan’s leading Insurtech and 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.
Healthcare sector continues to experience an exponential volume of traffic due to Covid19 but the nature of the pandemic highlighted various inefficiencies of physical infrastructures, one of them being the inability to cater to a large crowd in a safe and quick manner. 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 considered a leader amongst Healthcare Apps in Pakistan.
“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” said Saad Siddiqui, Founder & CEO Find My Doctor.
“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” said Muhammad Aminuddin, CEO TPL Insurance.
The transaction is subject to a successful completion of certain conditions and regulatory processes.
About Find My Doctor Founded in 2016, the superapp provides a one-stop solution for all medical needs at home ranging from doctor visits, lab tests to medicine delivery and video consultations. Compared with the competition, the platform offers a quicker turnaround time, affordable pricing and an emphasis on continuous improvement. The core principle of design strives to provide usability and accessibility to 221 million Pakistanis.
About TPL Insurance & TPL e-Ventures TPL Insurance is the first insurance company in Pakistan to sell general insurance products directly to the consumer. Since launch in 2005, the company has grown from strength-to-strength and is now the leading insuretech player in Pakistan. TPL Insurance specializes in tech-driven innovative solutions and digitally integrated systems to provide hassle-free customer experiences and round-the-clock services to its 300K+ customers.TPL e-Ventures invests in startups across tech-enabled companies at a pre-seed and seed-level, with a vision to build a leading platform for catalyzing high potential entrepreneurs. As a early strategic investor, TPL e-Ventures seeks to play an active role in the company’s development.