(VCBeat) Mar. 16, 2021 -- Recently, Shenzhen Muchenglin Technology Co., Ltd. ("Muchenglin Tech"), the parent company of Xiaoyusan Insurance, announced the close of a Series C investment round of hundreds of millions, led by Gopher Asset, with participation from existing investors. Prior to this, Muchenglin Tech has obtained several rounds of investment from Sequoia Capital China, Matrix Partners China, Tasly Capital, Albatross Venture, and other investors. Guangyao, founder and CEO of Xiaoyusan Insurance, said the funds raised will continue to be used for insurtech and others.
Established in 2015, Shenzhen Mushenglin Technology owns business units such as Xiaoyusan Insurance, Paikesi Technology and Xiaole Health. Among them, Xiaoyusan Insurance holds a national insurance broker license and has attracted great attention because it has jointly launched customized digital insurance products with many insurance companies. In addition, in terms of insurance services, Xiaoyusan Insurance has been walking in the forefront of the industry.
Xiaoyusan Insurance has a lot of experience in data analysis and algorithms, and has improved operational efficiency and risk management ability in pre-sale consultation, intelligent underwriting, claims settlement, risk control and other aspects for its clients. In the whole process of insurance purchase (pre-sales consultation - product customization - purchase - underwriting - claim settlement), Xiaoyusan Insurance keeps innovating with scientific and technological means. Through one-to-many and many-to-many interactive forms and services, it has completed the digitalization of services, improved the experience of each process, and formed a closed loop, which reduces costs and increases benefits for users.
It is understood that Xiaoyusan Insurance has reached strategic cooperation with nearly 80 insurance companies, serving nearly 15 million users.
About Gopher Asset
Gopher Asset, was established in March 2010 as a subsidiary of Noah Holdings Limited (NOAH: NYSE), the largest independent wealth management company in China. It is committed to be a leading alternative asset manager with a focus on Private Equity Investment, Real Estate Fund Investment, Secondary Market Investment, Family Office and Discretionary Account Investment and Institutional Services. As of 2019 Q1, Gopher's total AUM has surpassed RMB 171.1 billion.