Deals
Tencent Invests Another $150 Million in Waterdrop for Expansion
- Waterdrop already raised $230 million from investors in August
- Chinese health-care crowdfunding platform is mulling an IPO
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Tencent Holdings Ltd. is investing about $150 million in Waterdrop Inc. to bankroll the Chinese startup’s expansion in health-care crowdfunding, according to people familiar with the matter.
The insurance tech firm, which already counts Tencent as a backer, will use the funds to expand its online platform and bolster its technology, the people said, requesting not to be identified because the matter is private.