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(L-R) MediConCen co-founders Kelvin Yeung (COO), William Yeung (CEO), and Jenny Lau (CMO)
Hong Kong-based MediConCen, a startup automating insurance coverage claims utilizing AI and blockchain, has raised US$6.85 million in its newest Collection A spherical.
HSBC Asset Administration led this spherical, with help from current buyers G&M Capital and ParticleX and new investor Wings Capital Ventures.
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This brings MediConCen’s complete elevate to US$12.7 million.
The capital shall be used to develop into the Center East and Southeast Asia.
“Insurance coverage does good for the society, however usually it isn’t felt by the purchasers. There’s a lot frustration coping with the medical declare course of for each prospects and insurers alike. We’re altering the paper-based and human-based declare course of to digital and AI-assisted journey, utilising the newest AI and blockchain know-how,” mentioned William Yeung, CEO and co-founder of MediConCen.
MediConCen is an insurtech firm that utilises Hyperledger blockchain know-how to offer purchasers with an automated expertise in insurance coverage claims. MediConCen has secured a blockchain patent within the US and Hong Kong. The corporate serves over 16 insurers and over 1 million insured people, and its cashless declare platform has over 1,200 medical suppliers taking part.
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MediConCen is a Cyberport group startup that joined its incubation programme in 2018. With the help of Cyberport Macro Fund, a fund that gives seed to Collection A stage and past funding to Cyberport digital entrepreneurs, MediConCen has secured further co-investments to facilitate its progress in 2020.
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The submit MediConCen baggage US$6.85M to take its AI, blockchain-powered insurtech platform to SEA appeared first on e27.
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