SoYoung Technology, the China-based developer of an app that connect users to plastic surgery clinics, has raised $50m at a $462m valuation from internet company Tencent, according to Bloomberg.
SoYoung has created an app that lists nearby plastic surgery clinics and lets users share before and after photos of their procedures. The company claims it processes almost 60,000 orders for non-invasive plastic surgery per month.
The investment comes at a time when SoYoung aims to add 200 clinics and thousands of surgeons to its marketplace in the next three years. Tencent will help SoYoung increase its rate of app downloads.
The company will use the cash to develop a cloud computing platform that will offer financing solutions to users who may not be able to afford surgery otherwise.
Jin Xing, chief executive of SoYoung, said: “In areas like cosmetic surgery, e-commerce platforms can help make pricing and competition more transparent. SoYoung is positioned to become the first successful company based on an online healthcare business model.”
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