Chinese insurtech platform Yuanbao bags $156m Series C led by Source Code

Fang Rui, founder and CEO of Chinese insurtech startup Yuanbao

Chinese insurtech platform Yuanbao has secured nearly 1 billion yuan ($155.9 million) in a Series C round of financing led by Source Code Capital, which invests in early- and growth-stage tech companies in China, the startup announced on Monday.

Cathay Capital alongside existing shareholders Beijing-based HIKE Capital, Northern Light Venture Capital,  Qiming Venture Partners and US-based Susquehanna International Group participated in the round.

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