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Chongcheng Technology Mobile pet health insurance platform wins strategic funding

In Action Summary

Chongcheng Technology, Hangzhou-based pet insurance operator has several million rmb in strategic funding from Hangzhou-based pet product technology developer Shunchong. The funding will be used to accelerate its pet health insurance platform nationwide. This is in addition to CNY 8-digit angel funding from GR Asset Management in February 2018.

Chongcheng will partner with ZhongAn to develop several types of pet insurance to reduce the expense and risks associated with the medical costs, burial, and transportation of pets.

Founded in 2017, Chongcheng now covers 38 cities in eight provinces, has signed c.600 partnering pet hospitals, and will soon train and launch 300 more. It allows pet owners to buy health insurance for their pets through its official account on Tencent’s WeChat mobile messaging app. To date, c.100K users have purchased insurance. The insurance products cover 20-60% of vet visit expenses and manage medical records for the animal.

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