Youjia Health Secures Multi-Million Dollar Series A Funding Led by Joy Capital

On November 6, UPlus Health (UPlus Health Insurance Technology (Beijing) Co., Ltd.), a third-party service platform for commercial health insurance, announced the completion of its Series A financing round, amounting to several million US dollars. The round was led by Joy Capital. The funds will be utilized for talent acquisition, technological upgrades, product iteration, and market expansion, with the aim of building the leading third-party service brand in the commercial health insurance sector within the broader health insurance ecosystem.

Founded in June 2017, UPlus Health is positioned as a third-party medical and health service platform connecting healthcare providers, insurance companies, and policyholders. It is committed to enhancing the service capabilities and risk control measures of commercial insurers, improving the service experience for policyholders, and increasing the operational efficiency of medical institutions. At its inception, UPlus Health secured angel-round investment from Legend Star, a leading domestic healthcare investment firm.

Wang Yibi, Investment Director at Legend Star, stated at the time that while insurance carries financial attributes, health insurance places greater emphasis on medical service attributes, requiring a multidisciplinary team with a deep understanding of both healthcare and insurance. The UPlus team possesses this inherent capability.

Wang Yanping, founder of UPlus Health, stated that after more than a year of development, UPlus Health has made significant progress in four areas. First, Ding Haochuan, former President of Wish China, joined UPlus Health as a co-founder during its early startup phase, bringing about an upgrade to the company’s business model into a technology-enabled platform integrating “insurance + healthcare + wellness.”

Secondly, Youjia Health has successively recruited top-tier professionals from the insurance, reinsurance, and internet sectors, bringing expertise in technology, product development, healthcare, and marketing. It has assembled a service team comprising over 200 professional doctors and nurses and established branch offices in first-tier cities such as Beijing, Shanghai, and Guangzhou, thereby upgrading its team building efforts.

Thirdly, Youjia Health has continuously iterated its products, expanding from direct billing and advance payment services for commercial health insurance to general practitioner consultations, health management services, and customized medical insurance products, thereby creating a closed-loop ecosystem of “medical care + health + insurance.” Currently, Youjia Health’s medical service network has expanded to 38 core first- and second-tier cities across China, covering more than 3,000 tertiary hospitals and higher-level medical institutions, establishing an efficient, convenient, and comprehensive service system.

Fourth, UJia Health’s products and service model have gained industry recognition. The company has established partnerships with more than 30 insurers across diverse segments—including property & casualty, life, pension, health, mutual insurance, brokerage, and reinsurance—as well as with leading internet platforms and enterprises. It has also developed and launched several products, earning a strong reputation in the industry.

“Our goal is to build an integrated empowerment platform based on the S2B model, operating a PPO Preferred Medical Network model on this platform,” emphasized Ding Haochuan, Co-founder of U+ Health. “The platform’s mission is to provide precise, flexible, and efficient healthcare service supply, creating customized and scenario-based service empowerment value for insurance and internet users. In the early stages of serving select internet companies and innovative insurers, this value has already gained their recognition and acceptance. U+ Health will seize the window of opportunity to rapidly expand and solidify this empowerment value concept across platform development, product offerings, and team building.”

Li Xiao, Founding Partner of Joy Capital, the lead investor in this round, stated that leveraging new technologies to drive the development of massive traditional industries has always been a key investment focus for Joy Capital. China’s health insurance market serves a population of over one billion, boasts a scale reaching hundreds of billions of yuan, and maintains a high growth rate. “The founding team of UPlus Health has cultivated deep expertise in the health insurance sector for more than a decade, accumulating substantial industry resources and experience. We believe that, powered by technology, UPlus Health will undoubtedly deliver a more enjoyable experience to customers and bring valuable exploration and transformation to the industry.”

From a macro perspective, the insurance industry is returning to rationality, supported by a strong policy foundation driven by the implementation of the “insurance should prioritize protection” policy and the establishment of the China Banking and Insurance Regulatory Commission (CBIRC). Furthermore, internet giants such as Alibaba and Tencent have entered the commercial medical insurance sector, leveraging their traffic and platform advantages. This has introduced more diversified business models to the industry and played a significant role in educating and guiding insurance consumers.

“An increasing number of people recognize that the core of health insurance lies in medical and healthcare services. The integrated service model of ‘insurance + medical services + health management’ presents a significant development opportunity for Youjia Health, as our services are in urgent demand by the market,” stated Wang Yanping.

“Youjia Health’s original mission has remained unchanged: to elevate the overall level of medical services in the health insurance market. Following this round of financing, we will continue to attract top talent, iterate and implement our products and services, and strive to become the leading third-party service provider for commercial health insurance within the broader health insurance ecosystem,” said Wang Yanping.