Tencent and Swiss Re led a $230m series D round in Waterdrop.

Tencent Holdings and Swiss Re, a reinsurance services provider led a $230m series D round in Waterdrop, a Chinese insurance services provider. IDG Capital and Wisdom Choice Global Fund also participated in the round. “Amid the rapid expansion of the Chinese commercial health insurance market, Waterdrop has seized the market opportunity very well and used the power of technological innovation to help tens of millions of families. Tencent continues to be a long-term supporter of Waterdrop and will help it build an even better user experience,” Yu Haiyang, Tencent Managing Director.