Bojiang Capital Management Group, a Shanghai-based investment firm, has led a series B financing round in Hejin Online, a Beijing-based big data company focused on the insurance industry, according to a company announcement.
Redpoint Ventures also participated in the round, but no financial details were announced.
Hejin was founded in 2015 by big data specialist Wang Yaqing, a former president at Alibaba Health Information Technology Ltd. He was also the chief technology officer at JD.com Inc. and global vice president at U.S.-based computer software company Oracle Corporation.
The company provides insurance services for both individuals and insurance companies, including Lipeibao, an online insurance claim platform allowing customers to receive payment in the shortest time possible.
It also has a product called Baodanbao, a mobile app for insurance companies to manage their insurance policies, as well as a big data platform, where individuals, medical care companies and insurance companies can access a variety of information including government policies, insurance, and medical knowledge.
The company previously raised a series A round worth ten of millions U.S. dollars from Morningside Venture Capital and Redpoint Ventures in 2016.
Just three days ago, Xiaoyusan, a Shenzhen-based online insurance platform that allows users to purchase insurance, raised a RMB100 million (US$14 million) series B round from Matrix Partners China and Chinese investment firm Tianshili Capital.