Nuanwa Technology Obtained 100 Million Yuan Angel Round Financing, To Explore in Health Insurance Business
According to VCBeat, on August 29, 2019, health insurance technology company Shanghai Nuanwa Technology co., LTD. ( Nuanwa Technology) has completed 100 million yuan angel round financing, led by Sequoia Capital China, jointly invested by Kuanping Capital.
Nuanwa Technology, dedicated to empowering the health insurance value chain with digital technology, was founded by Zhong An in October 2018. After its independence from Zhong An, Nuanwa Technology creates a unique health insurance service closed-loop with product customization service, risk control, health insurance claims service, system service, and other integration solutions.
At present, Nuanwa Technology has cooperated with about 20 insurance companies and Internet platforms, mainly providing them with intelligent claims settlement and risk control services of health insurance.
One of the hottest tracks in recent years is the health insurance track, where Nuanwa Technology is involved. The Chinese market size of health insurance in 2018 was 544.813 billion yuan, with a compound annual growth rate of 35.95% in the past five years. It will be a trillion-level market in the future. With the promising market, insurance technology innovation enterprises in this track are favored by capital.
Sequoia Capital China is a VC firm focused on seed-stage, mid-stage, late-stage, and growth investments in the fin-tech sector.
Formed in September 2005, Sequoia Capital China has an impressive and diverse portfolio comprising about 300 dynamic companies that deliver high returns on investment using differentiated technologies and innovative business models, including Alibaba, VIPshop.com, Sina.com, Didi, JD.com, Ourpalm, Qihoo 360, Jumei, Momo, and so on.
About Kuanping Capital
Kuanping Capital is an industrial investor focused on the healthcare sector, with research-oriented, growth-driven investments.
Kuanping Capital inclines to hold platform-based companies, or a large proportion of minority equity to expand its portfolio. The company improves the operation of platform-based companies. Based on the business of its holdings, Kuanping Capital continues to merge and integrate in related fields, with a single investment scale of 0.2-1 billion yuan typically.