China's Waterdrop nabs $230M for its crowdfunded, mutual aid insurance platform
Companies, agencies, institutions, etc
Swiss Re
Tencent
WeChat
QR
IDG Capital
Wisdom Choice Global Fund
VC
Swiss Re’s
InsurTech
The Insurance Mall
country.“Amid
Tencent Investment
People
Waterdrop
Shuidihuzhu
Yuri Milner
Boyu Capital
Jiang Zemin
Peng Shen
Ning Zhou
Lemonade
Waterdrop Crowdfunding
Waterdrop Mutual
Xiang Hu Bao
Russell Higginbotham
Yu Haiyang
Groups
Chinese
COVID-19
Swiss
Physical locations
Europe
Asia
Places
Waterdrop Insurance Mall
Locations
US
China
ZhenFund
patients.“As
Alibaba
MD
Events
the Series
Summary
But today comes news of how another approach — a platform based around crowdfunding and mutual aid that pays out when its members fall into medical dire straits — is picking up some significant steam in its growth, and its financial backing.Waterdrop, which goes by Shuidihuzhu in China (translated as “water drop mutual help”), today said that it has raised $230 million in a new round of funding jointly led by two strategic investors, the insurance giant Swiss Re and returning investor Tencent, whose WeChat platform is used to sign up users and buy products using a quick QR code scheme.Previous investors IDG Capital and Wisdom Choice Global Fund also participated in the Series D.
As said here by Ingrid Lunden