CarePay International

What CarePay International does

CarePay International is a health insurance technology company founded in 2015 in Kenya and headquartered in Amsterdam, Netherlands. The company operates an API-first, cloud-native platform that connects payers, healthcare providers, and members to digitize end-to-end health insurance operations including enrollment, eligibility verification, claims processing, and provider payments. Its flagship product, the CarePay Platform, is FHIR-compliant, built on AWS infrastructure, ISO/IEC 27001:2013 certified, and features multi-currency, multi-tenant, multi-brand architecture with embedded AI/ML for claims automation, fraud detection, and predictive analytics. The platform is deployed under the M-TIBA brand in Kenya through a joint venture with Safaricom and PharmAccess Foundation, and under the Aspire brand in the UAE via a partnership with Reinsurance Group of America (RGA).

CarePay generates revenue through enterprise platform licensing to health insurers and Third-Party Administrators (TPAs) on subscription and per-member-per-month pricing, transaction-based processing fees for claims and pre-authorizations, white-label/OEM licensing arrangements (notably with RGA for Aspire UAE), and embedded financial services via M-TIBA's mobile wallet integrated with M-PESA. The company has onboarded over 5,000 healthcare providers, connected 20 payers, and impacted 4.8 million+ lives, with reported outcomes including 80% reduction in claims handling costs, 95% reduction in payment turnaround time (from 60+ days to 24 hours or 3 days), and 100%+ improvement in member NPS. Customers include private insurers (Jubilee Health Insurance, Britam, APA Insurance), public programs (NHIF), reinsurer RGA, broker Transnep Insurance Brokers, and a network of hospitals and clinics across East Africa.

The company has raised approximately €55 million across disclosed funding rounds, including a €40 million Series A in 2019, €10 million from RGA and HIF in September 2024, and €5 million from Invest International in April 2025. CarePay expanded from Kenya to Nigeria in 2018 and to the UAE in 2024 through the Aspire platform, with MENA region expansion as a stated strategic priority. The company employs 135+ staff across Amsterdam and Nairobi offices and is led by Acting CEO Moses G. Kuria following the March 2026 leadership transition.

Name

CarePay International

Legal name

CarePay International B.V.

Website

https://carepay.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

101–250 employees

Short description

CarePay International is a health insurance technology company providing an API-first, cloud-native platform that connects payers, providers, and members for end-to-end digital insurance operations. It serves 20+ payers, 5,000+ providers, and 4.8M+ members across Kenya, Nigeria, and the UAE.

Ownership category

akta.pro rank

Product category

Health Insurance Technology

NAICS

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Services-Prepackaged Software (7372)

akta.pro primary industry

Compliance, Reporting & Regulatory Administration (ERISA/ACA/No Surprises) (HLAEALAJ)

akta.pro secondary industry

Healthcare Billing & Patient Payments Presentment (FSAMAJAH)

Keywords

• Health insurance platform
• Claims processing software
• Insurer technology
• AI claims automation
• Health insurance administration

Headquarters

HQ city

Amsterdam

HQ country

Netherlands

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations

Revenue model

1. Platform Licensing to Health Insurers: CarePay provides its cloud-based health insurance platform to health insurers and TPAs, enabling end-to-end digital operations from enrollment to claims processing and payments. Revenue is generated through platform subscription and/or per-member-per-month fees based on the number of covered lives.
2. Transaction-based Processing Fees: The platform charges fees per transaction processed (claims submissions, pre-authorizations, payments). This creates usage-based revenue tied to platform activity volume.
3. White-label/OEM Platform Licensing: CarePay provides its technology to partners (like RGA for Aspire in UAE) under white-label arrangements, licensing the platform for rebranded deployment in new markets.
4. Embedded Financial Services: M-TIBA in Kenya enables mobile health wallet functionality with M-PESA integration, facilitating healthcare payments and micro-savings with potential transaction fees.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels7 records

Core offering

CarePay International provides a cloud-native, API-first health insurance administration platform that connects payers, providers, and members for end-to-end operations including enrollment, policy administration, claims processing with AI/ML automation, provider payments, and member engagement. The platform is branded as M-TIBA in Kenya (a joint venture with Safaricom integrated with M-PESA) and licenses its technology as Aspire, a third-party administrator platform in the UAE developed with RGA. The company sells to health insurers, TPAs, and government health schemes through enterprise subscriptions and white-label/OEM licensing.

Product overview

CarePay International operates as a health insurance technology company offering a next-gen platform architecture consisting of the core CarePay Platform plus modular components. The platform connects payers, providers, and members through end-to-end insurance operations including policy administration, provider network management, claims processing with AI automation, real-time analytics, and member engagement tools. Key products include M-TIBA (the company's Kenya sub-brand offering mobile health wallet services), Aspire (a UAE third-party administrator platform developed with RGA), the CarePay Member App, Provider Self-Service Portal, Analytics & Insights Dashboard, AI Claims Processing, Fraud/Waste/Abuse Detection, Cash Advance loans, Telemedicine Services, and Embedded Payments via Klear.ai partnership.

Differentiator

Problem solved

Functional benefit

Products and services

• CarePay Platform API-first, cloud-native health insurance administration platform that connects payers, providers, and members for end-to-end insurance operations including enrollment, policy administration, claims processing, provider payments, and real-time analytics. Sold to health insurers and TPAs through enterprise subscriptions.
• M-TIBA Kenya-branded consumer and provider-facing digital health wallet and insurance platform from CarePay, integrated with M-PESA mobile money. Enables members to save for healthcare expenses, access health insurance benefits, and pay for services at partner facilities.
• Aspire Licensed third-party administrator platform developed in partnership with RGA for the UAE market. Facilitates real-time data exchange and communication between insurers and healthcare stakeholders with GDPR-compliant security standards.
• Cash Advance (Healthcare Provider Loans) Digital loan product for healthcare providers offered in collaboration with the Medical Credit Fund (MCF). Provides unsecured loans up to KES 40 million as working capital, with automated repayments integrated through the M-TIBA platform. Over 600 facilities have benefited with over 5,000 loans administered.

Quantifiable outcome

• Claims payment turnaround time reduced by 95%
• +9 more outcomes

Named customers13 records

Segments6 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability12 records

Feature7 records

Partnerships

Nine partnerships are on record, tiered strategic, flagship, minor and core.

• Klear.aistrategicTechnology or Integration · 21 August 2025Partnership to embed digital disbursement technology into Klear.ai's claims platform. Enables organizations to issue payments via ACH/EFT, virtual card, or check within existing workflow. Targets self-insured employers, TPAs, carriers, and risk pools.
• RGA (Aspire UAE)flagshipOEM/ Whitelabel/ Licensing Partner · 15 November 2024CarePay developed the Aspire platform technology for RGA's licensed third-party administrator in UAE. Aspire offers an innovative platform transforming health insurance portfolio management for insurance companies, facilitating real-time data exchange with highest security standards.
• eBeeminorChannel Partner/ Reseller/ Distributor · 5 October 2023Partnership to provide innovative healthcare cover (Kinga Afya) to e-bicycle riders. Over 200 eBee riders in Nairobi get accident and hospitalization coverage bundled with e-bicycle pricing, underwritten by AAR Insurance.
• AAR Insurance KenyaminorChannel Partner/ Reseller/ Distributor · 5 October 2023Insurance partner for eBee healthcare coverage (Kinga Afya). AAR underwrites the bundled rider protection product powered by M-TIBA technology.
• SafaricomflagshipStrategic or Co-development PartnerJoint venture partner for M-TIBA in Kenya. Safaricom, through M-PESA mobile money infrastructure, provides the payment foundation for M-TIBA's digital health wallet. M-TIBA is integrated with M-PESA to enable seamless payment and transfer of funds for healthcare services.
• PharmAccess FoundationcoreStrategic or Co-development PartnerStrategic partner in developing the CarePay/M-TIBA platform. PharmAccess focuses on improving access to healthcare through business models. CarePay emphasizes the business side of the approach while PharmAccess brings healthcare expertise. Nicole Spieker, CEO of PharmAccess Foundation, is on CarePay's board.
• Medical Credit Fund (MCF)strategicStrategic or Co-development PartnerPartnership for Cash Advance loan service providing unsecured loans up to KES 40 million to private healthcare facilities as working capital. Since 2017, over 600 facilities have benefited with over 5,000 loans administered.
• Kenya Association of Private Hospitals (KAPH)strategicStrategic or Co-development PartnerPartnership from November 2022 to enhance healthcare financing capabilities for private hospitals in Kenya through the M-TIBA platform.
• AWS (Amazon Web Services)coreTechnology or IntegrationAWS hosts the CarePay platform on cloud servers, providing infrastructure for real-time data processing, claims management, and platform scalability.

Scale indicators18 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Inclusivity Solutions: South Africa-based insurtech providing digital insurance infrastructure and microinsurance platforms across African and emerging markets. Directly comparable to CarePay's emerging-market insurance administration and white-label insurance platform model.
• BIMA (Milvik): Mobile-first health and life microinsurance provider serving emerging markets in Asia, Africa, and Latin America. Directly comparable to CarePay in target customers (low/middle-income, informal sector) and distribution model (mobile-telco partnerships).
• Pula Advisors: Africa-focused insurtech designing and delivering digital insurance products, especially in agriculture and health, for emerging-market smallholders. Comparable to CarePay in its emerging-market focus, partnership-led distribution, and digital-first insurance product design.
• Alan: France-based digital health insurance company building its own tech stack for end-to-end health plan administration. Comparable to CarePay in its API-first, cloud-native, AI-enabled approach to health insurance operations, though Alan is a direct carrier rather than a B2B platform.

Broad incumbents

• Duck Creek Technologies: US-listed provider of SaaS core systems for the P&C and broader insurance industry. Overlaps with CarePay's platform play for insurers but serves a much broader insurance portfolio and primarily developed-market carriers.
• Guidewire Software: Established enterprise software platform for property & casualty and broader insurers. Comparable as a SaaS core-system vendor for insurers, but addresses a wider product set and developed-market customer base than CarePay.
• Cigna Group: Global health services and insurance company with extensive technology and TPA capabilities. Comparable as a broad incumbent competing for the same enterprise health-insurer customers CarePay targets, especially in MENA through partnerships and reinsurance relationships.
• Salesforce (Health Cloud): Major enterprise cloud platform with a Health Cloud vertical offering for payers, providers, and care management. Represents the broad-incumbent competitive threat, as large insurers could opt to extend Salesforce rather than buy a dedicated TPA platform like CarePay.

Regional players

• Discovery Limited: South African-headquartered global health and life insurer with proprietary wellness and claims technology platforms (e.g., Vitality). Comparable as a vertically integrated, tech-driven health insurer serving African and select international markets.

Others

• M-Phaze / Medical Credit Fund: Existing CarePay partner providing digital lending to healthcare providers via the M-TIBA platform. Not a direct competitor but a relevant comparable in the African health-fintech ecosystem and a potential acquisition or partnership candidate.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/carepay-international
• Xx.com/carepayke

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries2 records

Funding overview

Funding rounds4 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CarePay International