Tencent is reportedly injecting more funding into WeChat-powered healthcare insurer Waterdrop ahead of a potential IPO at a projected $4bn valuation.
Internet group Tencent is investing about $150m in China-based digital healthcare insurance service Waterdrop, Bloomberg reported yesterday.
Waterdrop offers healthcare insurance products that are administered and paid for through Tencent’s messaging and social media app, WeChat. The service includes a cooperative insurance plan where customers can pay micro-fees to collectively cover treatment costs for members of the scheme who later fall sick.
The cash will enable Waterdrop to upgrade its platform in a bid to keep pace with its competition.…
