Subscribe

Briefing
Briefing · 1
Briefing
Briefing · 1
Briefing
Aug 11, 2020 10:02 pm · SEC

OneConnect Issues 16.5 Million ADSs

News EO
News · 2
report
News EO
Aug 11, 2020 04:10 pm ·

Tencent-Backed Insurtech Waterdrop Raises USD 200 Mn, Preps US IPO

Online insurance platform Waterdrop (水滴公司) raised nearly USD 200 million from an international insurance giant, the name of which is yet undisclosed, in its Series D round of funding in July 2020, at a pre-money valuation of USD 2 billion.   Founded by an ex-Meituan executive Peng Shen in 2016, Waterdrop offers insurance services as well as medical financial aids for the middle or low-income groups through 'Waterdrop Insurance' (Chinese: 水滴保险), 'Waterdrop Fundraising' (Chinese: 水滴筹) and 'Waterdrop Mutual Assistant' (Chinese: 水滴互助). Waterdrop Inc has gone through at least four rounds of financing. In May 2016, a few investment household names, including Tencent (00700:HK), Meituan Dianping (03690:HK) and IDG, injected CNY 50 million in the company's angel round. Waterdrop further raised CNY 160 million and CNY 500 million in 2017 and 2019 respectively from varied backers, such as existing backer Tencent, Bluerun Ventures and Gaorong Capital. Last year, the company raised more than CNY 1 billion in its Series C. According to industry sources, Waterdrop is now in talks with Goldman Sachs and Bank of America, seeking an underwriter for its IPO. According to people familiar, the company expects to go public in the United States with a valuation between USD 4 billion and USD 6 billion at the end of 2020 or the beginning of 2021.  Previously, Mr. Shen, who also serves as the firm's CEO, revealed that the company realized net profits in April and May – and the annualized insurance premium in the first half of 2020 reached CNY 1 billion. 

Briefing
Briefing · 1
Briefing
Aug 11, 2020 03:10 am · 36Kr

Keyike Closes Series A of Financing

Briefing
Briefing · 1
Briefing
Aug 9, 2020 01:42 pm · 360 DigiTech

Qihoo 360 Rebrands its Financial Services Arm into 360 DigiTech

Briefing
Briefing · 1
Briefing
Briefing · 1
Briefing
Aug 7, 2020 01:07 am · Sina

Ant Group Chooses CICC as Sponsor for its IPO

Briefing
Briefing · 1
Briefing
Briefing · 1
Briefing
Briefing · 1
Briefing
Briefing · 1
Briefing
Briefing · 1
Briefing
Jul 27, 2020 04:33 pm · Sina

Ping An Technology Assigns New General Manager

Briefing
Briefing · 1
Briefing
Jul 27, 2020 12:09 pm ·

Huawei Applies for DLT and Blockchain Patents

Briefing
Briefing · 1
Briefing
Briefing · 1
Briefing
Briefing · 1
Briefing
Briefing · 1
Briefing
Jul 22, 2020 12:38 am · eastmoney

ZhongAn First Introduces Noseprint Recognition on Pet Insurance

Briefing
Briefing · 1
Briefing
Jul 22, 2020 12:31 am · cnstock

Futu Securities' Clients Surpass 1 Million

Briefing
Briefing · 1
Briefing
Briefing · 1
Read more