Why WeDoctor took its $500m injection from unlikely sources

Two leading Hong Kong conglomerates, AIA Company and NWS Holdings, join CICFH as lead strategic investors in the Tencent-backed internet healthcare platform.

Eschewing more traditional financing avenues, Chinese healthcare unicorn WeDoctor has tied up financing from two seemingly unlikely sources a property developer and an insurance giant.

The company announced on Tuesday its latest round of funding, worth some $500 million and valuing the start-up at some $5.5 billion, according to its statement. The funding round was led jointly by insurer AIA and developer New World Holdings, and an undisclosed investment from CICFH.

The deal underscores the potential in the underdeveloped healthcare market of a country with some 1.2 billion citizens. The investors, both based in Hong Kong, also see clear opportunities to expand their presence in...

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