Shanzhen, a China-based provider of healthcare for middle-aged and elderly patients, received tens of millions of dollars yesterday in a series B round led by quantitative trading firm Susquehanna International Group (SIG).
Venture capital firms GGV Capital and Bluerun Ventures also participated in the round, which follows $1.5m in series A funding from Bluerun in 2016 and a $5.5m series A-plus round backed by GGV the following year.
Shanzhen operates an online healthcare and risk management platform that enables middle-aged and elderly users to book appointments with physicians online and take out health insurance policies.
The company aims to tackle the problem of a demographic skewed towards the elderly which has resulted in just one child being responsible for financially supporting both retired parents without necessarily being aware of their health condition.
The funding will allow the company to develop risk assessment capabilities for its health insurance offering. It also intends to expand into other areas of healthcare services, though further details could not be ascertained.
