Social media giant Tencent has led an Rmb200 million $28 million Series B investment in Xiaobang Guihua an insurance advisory service platform on WeChat.
Existing shareholders including Sequoia, Bluerun Ventures and Reinsurance Group of America joined the round. They also invested in Xiaobang Guihua’s Series A round in November last year.
The startup is an insurance advisory platform based on WeChat’s Mini Programme. From a variety of different companies, customers can select an insurance policy and then purchase it directly via Xiaobang Guihua’s Mini Programme within WeChat.
Xiaobang Guihua also uses WeChat public accounts to advertise its insurance offers....