Consumer electronics producer Xiaomi has invested almost RMB100m ($14.3m) in China-based online insurance information provider Shenlanbao, 36Kr has reported.
Founded in 2016, Shenlanbao offers information on insurance in general as well as product analysis, audio shows, professional support and consultation to a base of about 1.8 million users. It has not revealed details of any earlier funding.
The company utilises messaging platform WeChat as well as its own website, and distributes its audio content through podcast platforms Himalaya (also a Xiaomi portfolio company) and Dragonfly FM.
The round comes at a time when the insurance industry is expanding through the provision of policies covering a wide range of new areas. Shenlanbao will use the funding to support the strengthening of its product and service range in addition to its legal capabilities.
