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Sehteq’s Growth Story: Customer Acquisition and Revenues
As one of the first insurtech startups in the region, the first hurdle Sehteq faced was one with licensing.
The only option available in 2017 was to be licensed as a generic technology company, or to be licensed as an insurance company.
Sehteq officially began operations in February 2018 and closed the year with 20,000 customers and US $2.5 million in revenues.
Customers grew by 5X in 2019, amounting to $17 million in revenues.
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Dubai’s Digital Economy and Its Expanding Startup Ecosystem
Dubai’s startup ecosystem will have raised over USD 2 billion by the end of 2022, with self-employed and digital economy roles tripling. Few MENA markets have a 20-year-old startup ecosystem birthing multiple unicorns. Dubai has been the digital startup hub for tech giants and new unicorns alike. Since 2017, Dubai has raised 96% of UAE’s funds, totaling over USD 2 billion by October 2022. LinkedIn data shows a booming digital economy job market with increasing opportunities and remote work options. Learn from top home-grown startups and global transplants why Dubai is poised to become the next digital economy capital of the world.
