- Tencent (OTCPK:TCEHY, OTCPK:TCTZF) leads a $24M series A funding round for the Shuidi healthcare crowdfunding platform that runs on Tencent’s WeChat app, according to China Money Network.
- The Chinese government reports that only 4% of the nation’s population doesn’t have basic medical insurance, but some struggle to pay for procedures not covered. Shuidi has raised $140M from more than 40M donors to help cover those extra costs.
- In other news, Tencent and Alibaba (NYSE:BABA) are overseeing the merger of Chinese delivery firm 58 Suyun and GoGoVan, a Hong Kong logistics company, to form the region’s largest online logistics platform.
- Alibaba has previously invested in both companies and Tencent backs 58.com (NYSE:WUBA), owner of 58 Suyun.
- Previously: Alibaba invests in $140M round for enterprise cloud services company (Aug. 29)
- Now read: Alibaba Should Acquire MercadoLibre To Expand Into Latin America
Original article