Insurtech firm Leapstack has secured an extra funding of 200m yuan ($27.8m) in its latest Sequence C+ funding spherical.
The funding spherical was led by Chinese language enterprise capital firm Qiming Enterprise Companions and included contributions from Soochow Yihe Capital and current shareholder Legend Capital.
It additionally concerned participation from MountainView Capital, which offered unique monetary advisory providers to Leapstack.
This funding might be utilized by Leapstack to offer superior digital options for medical insurance coverage, benefiting varied stakeholders together with authorities medical health insurance departments, industrial insurers, and healthcare suppliers.
The corporate goals to drive technological integration throughout the area by implementing superior enterprise fashions.
Since its inception in 2016, Leapstack has grown as a technology-driven healthcare threat management enterprise.
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A few of the shareholding corporations embrace Danhua Capital, Gaorong Capital, FinVolution Group, DCM, Fomou Property, 360 DigiTech, Huazhi Capital Lingfeng Capital, Puhua Capital, Uphonest Capital, Legend Capital, GF Qianhe Funding, amongst others.
The corporate, with twin headquarters in Beijing and Shanghai, has expanded its footprint to incorporate a number of branches throughout China, akin to Nanjing, Shenzhen, Hangzhou, Suzhou, Chengdu, Qingdao, Xi’an and others.
In 2019, Leapstack established its worldwide headquarters in Hong Kong to deal with the Asian market and has since prolonged its providers to Vietnam and Indonesia.
Leapstack’s strategic plan additional contains enlargement into different worldwide markets, together with the Southeast Asian area over the subsequent three to 5 years, with Thailand and Singapore recognized as key markets to mark its entry.
In response to Leapstack, one other core element of its technique is the clever audit system, which it has developed to mix good on-line audits and random offline inspections to observe medical insurance coverage funds and shield the general public’s medical bills.
Leapstack additionally supplies a digital platform for industrial insurance coverage corporations, integrating automated operations with large information threat evaluation to streamline the insurance coverage claims course of.
Quickly, the corporate intends to increase its attain into the medical care and well being business.
