Singapore-based employee wellness benefits platform CXA Group (CXA) on Wednesday announced that it has raised fresh funding from Thai HR solutions provider Humanica, and HSBC Life (International) Ltd, an indirect wholly-owned subsidiary of banking group HSBC Holdings plc.
With this latest capital injection, Humanica, in particular, has doubled its investment in CXA as a continuation of last year’s convertible note bridge financing, CXA Group said in a statement.
The startup had previously raised $58 million in total funding from Series A, Series B, and a convertible note round in 2015, 2017 and 2019, respectively.
“The follow-on investment reflects Humanica and HSBC Life’s confidence in CXA’s long-term growth opportunity. It also further backs our unique ability to shift healthcare spend from treatment to prevention, while keeping costs under control,” CXA Group chief executive officer Rosaline Chow Koo said.
