China-based health insurance platform The CareVoice has netted a $2m equity round co-led by Haitao Capital and SOSV.
Other commitments to the round came from local Chinese and SouthEast Asian healthcare investor.
The CareVoice is a health insurance platform that provides insurers with a SaaS membership solution which gives policy holders access to CareVoice’s social independent healthcare platform. Through the platform, policy holders can access improved healthcare services by viewing reviews of medial visits, finding cost effective medical centres and having a digitised insurance claims and benefits balance checking system.
During 2018, the company hopes to improve its mobile platform and look for in-house development opportunities and collaboration with third-party administrators.
This equity injection will be used to boost its insurance business lines and increase its technology development. The CarVoice will also look to expand its presence across China and in SouthEast Asia.
The CareVoice CBO Jan Velich said, “Considering our current growth and pipeline, we aim to provide half a million individual policyholders and 200 corporate accounts across over 10 insurance companies with our service within the next twelve months.”
Earlier in the year, Francisco Partners and Chrysalis Ventures acquired health insurance platform Connecture in an undisclosed deal. The transaction saw the firms pick up a 70 per cent stake in Connecture.
Last year, China’s FinTech sector was dominated by the payments and remittances and marketplace lending sectors. Combined, these two sectors accounted for over two thirds of the funding to the country.