Other investors in the round include Matrix Partners China, Xinyi Capital, Zhongguancun Dahe Capital and GGV Capital’s venture partner Denise Peng.
Baozhunniu, launched in 2015 by Beijing Youquan Zhihui Information Technology Co, offers customised insurance packages. It partners with local and global insurance companies such as People’s Insurance Company of China, Allianz, China Pacific Insurance Company and China Life Insurance.
It claims to have served over 3,500 enterprise customers including ofo, Baidu and 58 Express. It had secured RMB30 million ($4.5 million) in its Series A round from Matrix and Xinyi Capital last August.