Shanghai-based insurtech raises US$15.5 million in series A round
CompanyIns For Renascence (IFR)
In Action Summary
Shanghai-based Ins For Renascence (IFR) recently raised approximately $15.5mn in series A funding led by Matrix Partners.
IFR specializes in pre-insurance risk control and product customization for personal insurance lines. It uses big data, machine learning, and cloud computing technologies to gather multi-dimensional data such as consumption behaviors, data on customers’ medical care, finance, travel, and fraud, to create various solutions for insurance companies. With the new funding, IFR plans to expand its customized offering and improve its platform further.
Wan Haoji, partner of Matrix Partners China has said of the IFR investment: “China’s insurance industry has great potential, among which personal insurance that IFR focuses on is one of the most promising areas. We are dedicated to empowering insurance companies with big data. We are also optimistic about the team’s experience and execution in the industry. They have the potential to grow to the best insurance technology company in China.”