ISLAMABAD: Lack of financial inclusion can be overcome, especially in the case of Pakistan, with the adoption of innovative ideas. One female doctor, after experiencing her ordeal with the fragmented healthcare system in Pakistan, established a healthcare tech start-up by raising $6 million in funding from abroad.
After a life-altering accident left her temporarily paralysed, Dr Saira Siddique experienced firsthand the failures of a fragmented healthcare system in Pakistan. That personal experience became a life-changing episode and a journey of embarking upon a successful start-up established with funding abroad.
She raised $6 million in funds led by Rasmal Ventures (Qatar) and Joa Capital (Saudi Arabia). The footprint of this start-up has now been expanded into the Kingdom of Saudi Arabia and Qatar.
A rare but unique entrepreneurial idea of the female doctor was implemented and turned from a dream into reality. The formal announcement is expected to be made on Wednesday (today) on the sidelines of the Digital Foreign Direct Investment (DFDI) Forum 2025, a summit hosted by Pakistan’s Ministry of IT & Telecom in collaboration with the Digital Cooperation Organisation (DCO). An App has been developed to get a database of all registered clients to provide healthcare facilities.
MedIQ was launched in 2020 during the COVID-19 pandemic by Dr Saira Siddique as Pakistan’s first B2B virtual care platform. It connected insurers, corporate and individuals—urban and rural alike—with verified health service providers.
Dr Siddique pitched to 163 investors before securing her first cheque, often dismissed as a solo, female founder from Pakistan. Access to capital was limited, especially for women, and there was little precedent for scaling a tech-enabled health platform led by a woman.
The platform first launched in the twin cities of Islamabad/Rawalpindi, gaining 10,000 users in just two months. From there, MedIQ expanded to 50+ cities by partnering with major corporations, insurers, and telecom companies. The company works with leading players across the healthcare ecosystem—including hospitals, insurance firms, and public health organisations.
The capital will support expansion across Saudi Arabia’s $1.92 billion (SAR 7.2 billion) health tech sector, broadening its proprietary, AI-driven “Digitally Integrated Hybrid Healthcare Ecosystem”. The platform connects healthcare providers, insurance firms, and patients through a single, digital-first infrastructure, designed to enhance efficiency, accessibility, and patient satisfaction, in line with Saudi Arabia’s Vision 2030 healthcare modernisation goals. Following its success in Saudi Arabia, MedIQ plans to expand into Qatar and neighbouring GCC markets.
The funding marks a new chapter, which previously raised $3.8 million across seed and bridge rounds. In Pakistan, the company built a 10 million-strong customer base, became cash-flow positive, and validated its platform with a world-class tech stack and subject matter expertise. Its early success in Saudi Arabia, a critical proof-of-concept market, signals a strong product-market fit across the wider MENAP region.
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