Health Insurance Technology Company Nuanwa Technology Snags ￥100M in Seies A Round

According to VCBeat, Shanghai Nuanwa Technology Co., Ltd. ("Nuanwa Technology") has closed its series A funding round of over ￥100 million, led by Longfor Capital with participation from Lighthouse Capital. Sequoia Capital China also increased its investment as an existing shareholder.

The latest financing is only half a year away from the ￥100 million angel round invested by Sequoia Capital China in August 2019. 

Nuanwa Technology, dedicated to empowering the health insurance value chain with digital technology, was founded by Zhong An in October 2018. After its independence from Zhong An, Nuanwa Technology creates a unique health insurance service closed-loop with product customization service, risk control, health insurance claims service, system service, and other integration solutions.

In addition to cooperating with more than a thousand hospitals, Nuanwa Technology has also cooperated with more than 10 provincial platforms of medical insurance and health committees, thousands of physical examination institutions and special disease data platforms. The medical information base established by Nuanwa Technology covers the basic databases of diseases, drugs, diagnosis and treatment, materials and so on in all scenarios of health insurance.

Lu min, CEO of Nuanwa Technology, said, "Last year, we built the ecosystem of health insurance. In 2020, we will go deeper in the closed-loop service to provide more differentiated products to the market."

The person in charge of Longfor Capital said that Nuanwa Technology has completed the establishment and verification of its health insurance services in just over a year, and reached in-depth cooperation with a number of insurance companies. Such ability and speed are what they appreciate.

Founded in 2014 by Mr. Zheng Xuanle, Lighthouse advised 47 companies with transaction value over $5 billion; the combined market value of those companies exceeds $53Bn from $16 billion. The company works with new economic companies to break through the business dilemma and to better realize business innovation. 

Sequoia Capital China is a VC firm focused on seed-stage, mid-stage, late-stage, and growth investments in the fin-tech sector.

Formed in September 2005, Sequoia Capital China has an impressive and diverse portfolio comprising about 300 dynamic companies that deliver high returns on investment using differentiated technologies and innovative business models, including Alibaba, VIPshop.com, Sina.com, Didi, JD.com, Ourpalm, Qihoo 360, Jumei, Momo, and so on.