Waterdrop secures USD 230 mln for its insurance platform

Friday 21 August 2020 09:32 CET | News

China-based Waterdrop has announced a USD 230 million round of funding jointly led by two strategic investors, Swiss Re and returning investor Tencent.

Previous investors IDG Capital and Wisdom Choice Global Fund also participated in the Series D. The startup is not disclosing its valuation, but when the round had partially closed at USD 200 million earlier in August 2020, its pre-money valuation was USD 1.8 billion, which puts the valuation now at just over USD 2 billion, according to TechCrunch.

This latest round of funding will be used not just to keep growing the platform, but incorporating partnerships with others in the healthcare ecosystem, from pharmaceutical companies and insurance businesses, through to hospitals and pharmacies, and other clinical care facilities, in part by way of a new service called Haoyaofu, to provide members with lower-cost medications and treatments.

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Keywords: Waterdrop, China, insurance platform, investors, funding, Swiss Re, Tencent, IDG Capital, Wisdom Choice Global Fund, Series D, valuation, platform, partnership, healthcare, Haoyaofu
Categories: Banking & Fintech
Countries: China
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Banking & Fintech

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