Not only providing game, Tencent is also trying to do good for Chinese people. It backed up China’s biggest health tech provider, Shuidi. Tencent led the company’s Series B round, raising up to $74 million. In the latest Series C, the company received $144.5 million more investment.
The number breaks the record of funding for insutech companies. Based on Beijing, the company raised a total of $218.5 million raised only in three month’s time.
Overall, it raised $243 million with Tencent as its main investor. Gaorong Capital, Sinovation Ventures, BlueRun Ventures and IDG Capital also participated in the investment.
How Shuidi is immersed on Chinese patient-focused insurance
Apart from online insurance platform called Shuidi Insurance Mall, it also has other platforms related to medic. First it has Shuidihuzhu, a mutual assistance platform. Secondly, it has Shuidichou a crowdfunding platform for patient with zero-commission.
Starting off as Shuidibao, Shuidi Insurance Mall now has secured partnerships with 60 insurance companies across China. It went online at 2017, offering 80 insurance products. The platform has more than 10 million customers on the list.
Meanwhile Shuidihuzhu has more than 75 million members. Every member pays around three to five yuan to the platform each month. Then, when they fall sick, they can get up to about $43,000 for the medical bill.
Shuidichou did an even more impressive performance. It raised around $1.7 billion since its launch in 2016. It helps over one million patients without charging any commission fees.
Shen Peng founded the company back in 2016 and now sits as the company’s CEO. He stated that Shuidi would use the capital to build a professional medical insurance team. as well as applying artificial intelligence to enhance the performance of its online platforms.
Shuidi is the leading insutech company in China. On its platform, around 90% of the users have their first online insurance done through it.
