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Singapore-based broker targets mainland operation

  • Publish Date: Posted about 7 years ago

CXA Group, the Singapore-based health technology start-up, plans to work with Chinese conglomerate Fosun International to set up a new platform on mainland China. The new platform will automate employee health care programmes and create a marketplace for wellness providers. Rosaline Chow Koo, the founder and chief executive of CXA, confirmed that the cooperation will see it expand into Beijing, Shanghai, Guangzhou and Shenzhen. Koo said that the company will directly work with Shanghai Zhongheng Insurance Brokers, a unit of the Fosun group. The plans for China come after CXA’s announcement of a successful Series B investment round worth US$25 million, led by B Capital Group and the Singapore government’s Economic Development Board Investments. Koo hopes the funding round will drive CXA's expansion into China, India, Japan, South Korea, Taiwan, Indonesia, Malaysia, the Philippines, and Thailand.