Weibao Tech Secures Tens of Millions in Series B Funding to Advance Insurance Technology Solutions

Recently, Beijing Weibao Technology Co., Ltd. announced that it had completed a Series B financing round worth tens of millions of yuan. This round of investmentLed by Jingcheng Capital, with participation from Yunhe Capital and Mingrun Guangju. Previously, Weibao Technology had secured multiple rounds of investment from investors including Yeepay.. This round of financing will be used to further increase investment in insurtech and other areas.

WeBao Technology, established in 2014, is an insurtech company that provides comprehensive digital transaction management solutions for the insurance industry. By leveraging big data, cloud computing, and AI technologies, it helps insurance companies, intermediaries, and agents better serve the public’s insurance needs. Its business currently encompasses three core segments: transaction payment management, development of payment middle-platform systems, and the ACN Agent Service Platform, with products and services covering the front-end, mid-end, and back-end of insurance transactions.

In recent years, China’s insurance industry has experienced rapid growth, reaching a scale of trillions of yuan; however, its overall level of technological adoption remains lower than that of other sectors. For insurance companies, significant pain points persist in fund management. Regarding distribution channels, integrating with multiple payment gateways one by one entails long implementation cycles and high interface operation and maintenance costs, making it difficult to achieve broad coverage. In terms of internal management, reconciliation is challenging due to the complexity of business information and organizational structures. With respect to regulatory compliance, insurance institutions often struggle to adjust promptly to the continuous rollout of new policies on transaction payments by industry regulators. Meanwhile, insurance agents, another key group within the industry, face their own set of challenges, including difficulties in customer acquisition, low income, and high attrition rates.

Since its inception, the company has rapidly entered the insurance industry through transaction management, achieving unified management of premium collection and payment channels. Building on this foundation, it independently developed a payment middle-platform system to further address challenges such as unified reconciliation for insurers. The company has completed the necessary registration with the Payment & Clearing Association of China as an “acquiring outsourcing service provider.” On a compliant basis, Weibao Technology has established cooperative relationships with third-party payment institutions and banks. To date, the company has served more than 50 insurance company clients, including Sunshine Property & Casualty Insurance and Huaxia Life Insurance, as well as over 10 banks and payment institutions, with the cumulative volume of premium transactions exceeding RMB 200 billion.

Building on years of specialized expertise in capital management within the insurance industry, the company officially launched its agent service platform business line in December 2020. Since then, WeSure Technology has expanded its operations from backend-focused insurance payment technical services to mid-tier payment system development, entering the frontend domain of agent-oriented services. Leveraging its existing transaction and payment capabilities, the company not only delivers an enhanced payment experience for users but also empowers agents with technology to acquire and retain customers. To date, it has served dozens of insurance brokerage firms and tens of thousands of agents, with monthly premium volumes exceeding RMB 20 million. Moving forward, WeSure aims to evolve into a digital transaction service platform featuring participation from insurance companies, intermediaries, and agents.

Jingcheng Capital is an equity investment firm focused on high-quality enterprises in the deep tech and health tech sectors. Its core management team hails from Silicon Valley, the Guangdong-Hong Kong-Macao Greater Bay Area, and Suzhou, bringing extensive fund management expertise from both domestic and international markets. The firm’s historical investment performance ranks among the top in the industry, and it has repeatedly received recognition from authoritative industry institutions.Founding Partner, Cong Yuanhua“China has now become the world’s second-largest insurance market, with a trillion-yuan scale that continues to grow. Meanwhile, the trend toward technological upgrading in the insurance industry is clear, and the sector is in a growth phase of digital transformation, creating significant opportunities for insurtech companies. WeSure Technology’s founding and core team comprises experts in insurance fund management, business operations, and IT. Their deep understanding of pain points in insurance fund management, combined with years of accumulated expertise in technology and client services, has established their competitive moat. With a forward-looking industry perspective and strong execution capabilities, the team is poised to grow WeSure Technology into a leading enterprise in China’s insurtech sector.”

Regarding the future development direction of insurance transaction services,Founder Yang BinIt stated that WeSure would delve into transaction scenarios to provide digital transaction services. With the support of investors such as Jingcheng Capital in this round, it will increase its investment in digitalization, introduce digital yuan, digital certification, and digital supply chain solutions, expand the scale of transaction management, and ultimately build an industry ecosystem through its middle-office payment system and agent service platform.