Shanghai Nuanwa Technology, a health insurance internet platform, has raised 100 million yuan ($14 million) in a Series A round of financing led by Longfor Capital, an investment vehicle of Chinese real estate developer Longfor Group, according to a company statement on Friday.
Lighthouse Capital and existing investor Sequoia Capital China have also joined the round. Lighthouse Capital also acted as a financial advisor for the deal.
Nuanwa was founded in 2018 by HK-listed internet insurance company ZhongAn Online P&C Insurance Co., Ltd. It has built strategic partnerships with state-owned Bohai Property Insurance, and Kunming-headquartered Champion Property & Casualty Insurance.
Previously, Nuanwa had closed 100 million yuan ($14 million) round funding from Sequoia Capital China and healthcare-focused Kuanping Capital in August 2019.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on February 28, 2020.
Among top deals, luxury goods used platform Feiyu garnered tens of millions of dollars in a Series A round of financing led by Matrix Partners China and N5Capital.