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The Chinese insurance marketplace uses AI to match consumers with suitable coverage options.
And its digital-first solution can help bridge China s insurance gap, especially since the life and health insurance market is set to grow.
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Yuanbao raised nearly 1 billion yuan ($144.9 million) in a Series C funding round that was led by Source Code Capital and included Cathay Capital and Hike Capital,
per Deal Street Asia. Chinese insurtech raises mega-round. Insider Intelligence
The insurtech only launched last year and holds a national insurance brokerage license. It operates as a marketplace, selling coverage options from third-party insurers. It will use the fresh capital to fund the R&D of its core technologies and build smart insurance services.
Chinese insurtech raises mega-round for marketplace offering
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Yuanbao raised nearly 1 billion yuan ($144.9 million) in a Series C funding round that was led by Source Code Capital and included Cathay Capital and Hike Capital,
per Deal Street Asia. The insurtech only launched last year and holds a national insurance brokerage license. It operates as a marketplace, selling coverage options from third-party insurers. It will use the fresh capital to fund the R&D of its core technologies and build smart insurance services.
Despite its recent launch, Yuanbao has already onboarded millions of users with the help of its network of third-party insurers. Yuanbao has teamed up with domestic insurers including Huaxia Life Insurance, China Life Insurance, Sunshine Insurance, and People’s Insurance Company of China. It uses AI to help consumers find the insurance products that meet their needs, enabling users to access policies all in one place. Additionally, Yuanbao offers
Chinese insurtech platform Yuanbao bags $156m Series C led by Source Code
Fang Rui, founder and CEO of Chinese insurtech startup Yuanbao
May 10, 2021
Chinese insurtech platform Yuanbao has secured nearly 1 billion yuan ($155.9 million) in a Series C round of financing led by Source Code Capital, which invests in early- and growth-stage tech companies in China, the startup announced on Monday.
Cathay Capital alongside existing shareholders Beijing-based HIKE Capital, Northern Light Venture Capital, Qiming Venture Partners and US-based Susquehanna International Group participated in the round.
Thriving Capital, a Beijing-based investment bank, served as the exclusive financial advisor of the deal.
The Series C round is the fourth investment completed by Yuanbao although the startup initiated its operations only a year back. The new financing came shortly after Waterdrop, a Tencent-backed Chinese insurtech firm, raised $360 million in an initial public offering (IPO) in New Yor
ASEAN Automotive Insurance Market anticipated to Grow at a CAGR of 5.6% during Forecast Period
iCrowd Newswire
04 May 2021, 04:08 GMT+10
Astute Analytica published a new report on the Global ASEAN Automotive Insurance Market, the research study offers analysis and detailed insights on key market dynamics include growth drivers, restraint factors, challenges, opportunity analysis, and trends. The research report also includes a detailed analysis of market segmentation, competitive landscape, market vendors and estimated market size in qualitative and quantitative methods.
To know more about report scope and depth of data heads analyzed, request for Sample @
The global ASEAN Automotive Insurance market is anticipated to witness a remarkable growth at substantial CAGR of 5.6% over the forecast period i.e., 2021-2027. In the past years, the global ASEAN Automotive Insurance Market has shown a significant growth rate and is projected to display a positive development in the upcoming