MediConCen Secures Series A Funding to Drive Global Expansion

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HONG KONG SAR – Media OutReach Newswire – 7 February 2024 – MediConCen Limited, an Insurtech company that automates insurance claims using AI and blockchain, announced that it has raised USD 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 received USD 12.7 million, and this new investment will accelerate its growth in the international market, including the Middle East and Southeast Asia.

https://mediconcen.com


The issuer is solely responsible for the content of this announcement.

MediConCen Limited

MediConCen is a leading InsurTech company that automates insurance claims using AI and blockchain. It is the first in Hong Kong to utilize Hyperledger blockchain technology to provide clients with seamless and automatic experience in insurance claims. MediConCen has secured a blockchain patent in the US and Hong Kong. The company serves over 16 insurers and more than 1 million insured individuals, and its cashless claim platform has over 1,200 medical providers participating.

HSBC Asset Management

HSBC Asset Management should be referred to either in full or as HSBC AM to avoid confusion with any other financial services firms.

HSBC Asset Management, the investment management business of the HSBC Group, invests on behalf of HSBC’s worldwide customer base of retail and private clients, intermediaries, corporates and institutions through both segregated accounts and pooled funds. HSBC Asset Management connects HSBC’s clients with investment opportunities around the world through an international network of offices in 23 countries and territories, delivering global capabilities with local market insight. As at 30 September 2023, HSBC Asset Management managed assets totalling US$662bn on behalf of its clients.

HSBC Asset Management is the brand name for the asset management businesses of HSBC Holdings plc.