Legend Holdings has backed the insurance brokerage whose existing shareholders include Tsinghua Holdings and Fosun.
China-based insurance broker InsGeek has raised RMB100m ($14.4m) in a funding round that included conglomerate Legend Holdings, according to China Money Network.
The Chinese state-owned National SME Development Fund also took part in the round.
Founded in 2014, InsGeek provides an online service for employee benefits insurance and health management solutions to SMEs in China.
The company works with insurance companies like Ping An, Sunshine, CPIC Allianz and New China Life Insurance to sell their services to companies needing cover for their staff.
Fosun Rz Capital, a corporate venture capital arm of conglomerate Fosun, previously took part in a series A round worth tens of million of renminbi (RMB10m = $1.4m) but the timing has not been disclosed.
THG Ventures, the venture capital arm of Tsinghua University-backed investment firm Tsinghua Holdings, led a $7.2m series A-plus round in January 2017. Undisclosed investors supplied $720,000 in angel funding on an unspecified date.
InsGeek’s shareholders also include Legend Star, an early-stage investment vehicle of Legend Holdings, and TusStar, an incubator network backed by Tsinghua University, as well as Boss Mutual Fund and Hacheers Investment.
– This article first appeared on our sister site, Global Corporate Venturing.
