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Waterdrop Inc is a provider of personal medical funds in China, and a pioneer in Social Insurance Technology sector. Founded in April 2016, it is currently becoming the "Double King" of China's internet health protection track[1]. The Company’s mission is to insure hundreds of millions families’ health, and to support their needs both financially and medically.
History
Waterdrop Inc was founded by Peng Shen in May 2016. Tencent , IDG Capital, Gaorong Capital, ZhenFund and other reputable investors invested 50 million RMB to the company. In August 2017, Waterdrop Inc raised 160 million RMB, led by Tencent and BlueRun Ventures, Sinovation Ventures, Gaorong Capital, IDG Capital and other reputable investors. Waterdrop Inc has expanded its business rapidly in recent years. In March 2019, Waterdrop Inc Completes near 500 Million RMB of Series B Financing[2]. The investment was led by Tencent and co-invested by Gaorong Capital, IDG Capital, BlueRun Ventures, Sinovation Ventures, DST Global’s Founder Yuri Milner, the former CEO of Tencent’s E-Commerce Company - Wu Xiaoguang and other reputable investors. In June 2019, Waterdrop Inc acquired another round of C financing worth more than 1 billion RMB, led by Boyu Capital, and followed by Tencent, CICG, Gaorong Capital and some other well-known investors, with TH Capital as the exclusive financial advisor[3].
Businesse
The core businesses of Waterdrop Inc. mainly incudes Waterdrop Crowdfunding, Waterdrop Mutual and Waterdrop Insurance Mall, the aforementioned mainly operates on WeChat ecosystem, including official accounts and mini programs. Waterdrop Mutual is an online mutual insurance platform, offering insurance and financial service to enrolled members. At present, over 80 million people have joined Waterdrop Mutual , cumulatively 6000 families share mutual fund 820 million yuan. Waterdrop Crowdfunding is a serious disease crowdfunding platform, for needy patients to raise medical expense. At present, Waterdrop Crowdfunding has provided patients with free personal information release and fund-raising services, the cumulative fund-raising amount of over 20 billion yuan. Waterdrop Insurance Mall is an innovative Internet insurance platform, currently has more than 10 million paid users.
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