HONG KONG SAR – Media OutReach Newswire – February 7, 2024 – MediConCen Limited, an Insurtech company that automates insurance claims using AI and blockchain, announced that it has raised $6.85 million in its latest Series A round. The new funding is led by HSBC Asset Management and has also received support from existing investors including G&M Capital, ParticleX and new investor Wings Capital Ventures. To date, MediConCen has received $12.7 million, and this new investment will accelerate its growth in the international market, particularly in the Middle East and Southeast Asia.
(From left) Mr. Kelvin Yeung, Co-Founder and Co-COO of MediConCen; Mr. William Yeung, Co-Founder and Co-CEO of MediConCen and Ms. Jenny Lau, Co-Founder and Co-CMO of MediConCen
“Insurance does good for society, but customers often don’t feel it. The medical claims process causes a lot of frustration, both for customers and insurers. We always aim to create a 10x better customer experience and we believe that Insurance Claims is the most urgent area to address. MediConCen’s ability to provide extraordinary solutions lies in our deep understanding of insurance and cutting-edge technology. We are changing the claims process on paper-based and human-based towards digital and AI-assisted journey, using the latest AI and blockchain technologies. We are pleased to have the venture capital team at HSBC Asset Management join us as an investor supporting our mission to revolutionize the insurance claims experience,” said William Yeung, CEO and co-founder of MediConCen.
“Given our operational experience in financial products and services, we sincerely believe in the transformational effect of digitalization. The true value of insurance is realized at the moment when policyholders experience an insured event. We support the objective of MediConCen to improve this experience by simplifying and accelerating the claims journey, including ensuring that the amount of claims is fair, with a technological foundation that supports the increase in these benefits.” Said Kara Byun, Manager fintech, venture capital and growth investments, HSBC Asset Management.
MediConCen is a Cyberport community start-up that joined the Cyberport incubation program in 2018 and benefited from the financial support and access to partners and networks. With the support of the Cyberport Macro Fund, an investment fund that provides Series A seed and beyond funding to Cyberport’s digital entrepreneurs, MediConCen has successfully secured additional co-investments to facilitate its growth in 2020.
https://mediconcen.com
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Hashtag: #MediConCen #HSBC #Insurtech #newfunding #seriesA #Insurance #claim #AI #blockchain
The issuer is solely responsible for the content of this announcement.
