Insgeek.com, a business insurance platform for enterprises, has raised $25 million in a Series C round of financing led by global proprietary trading & broker-dealer firm Susquehanna International Group (SIG) and China’s leading financial institution China Renaissance’s new economy fund, according to a company statement on Wednesday.
Established in 2014, Insgeek is backed by Ministry of Finance’s National SME Development Fund (NSDF) and managed by Beijing Jingguan Technology Company Limited. Insgeek offers employee-oriented commercial insurance solutions to employers.
The company has so far served over 60,000 companies, covering hundreds of thousands of employees.
Headquartered in Beijing, Insgeek has set up divisions in Shanghai, Guangzhou, Shenzhen, Hangzhou, Suzhou, Wuhan, Chongqing, Chengdu and Xi’an.
The company will continue to upgrade the insurance platform and accelerate market expansion in the country.
Insgeek raised a $14-million Series B round from NSDF and existing investor Legend Holdings in 2018. In 2017, New Founder, a fund-of-funds investment firm, had injected an undisclosed sum in Insgeek. Prior to this round, the firm raised capital from Legend Holdings, THG Ventures, TusStar, Lotus Lake Ventures, Fosun RZ Capital, Bosi Investment and Hecai Fund.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from March 18, 2020.
