Business Daily Media

Men's Weekly

.

MediConCen Secures Series A Funding to Drive Global Expansion

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.

(From left to right) Mr. Kelvin Yeung, Co-Founder & Co-COO of MediConCen; Mr. William Yeung, Co-Founder & Co-CEO of MediConCen and Ms. Jenny Lau, Co-Founder & Co-CMO of MediConCen
(From left to right) Mr. Kelvin Yeung, Co-Founder & COO of MediConCen; Mr. William Yeung, Co-Founder & CEO of MediConCen and Ms. Jenny Lau, Co-Founder & CMO of MediConCen

"Insurance does good for the society but often it is not felt by the customers. There is much frustration dealing with the medical claim process for both customers and insurers alike. We always aim to create a 10x better customer experience, and we believe that insurance claims are the most pressing area to address. MediConCen's capability to deliver extraordinary solutions lies in our profound understanding of insurance and state-of-the-art technology. We are changing the paper-based and human-based claim process to digital- and AI-assisted journey, utilising the latest AI and blockchain technology. We are glad to have the Venture Capital team at HSBC Asset Management join us as an investor supporting our mission to revolutionise the insurance claim experience" said William Yeung, CEO and co-founder of MediConCen.

"Given our operational background in financial products and services, we are true believers in the transformational effect of digitization. Insurance's true value is realised the moment policyholders experience an insured event. We are supportive of MediConCen's aim to improve this experience by simplifying and speeding up the claims journey, including ensuring that the claim amount is fair, with a technology backbone that supports the scaling up of these benefits." Said Kara Byun, Head of Fintech, Venture & Growth Investments, HSBC Asset Management.

MediConCen is a Cyberport community start-up that had joined the Cyberport Incubation Programme in 2018 and benefited from the financial support and access to partners and networks. With the support of the Cyberport Macro Fund, an investment fund which provides seed to Series A stage and beyond funding to Cyberport digital entrepreneurs, MediConCen has successfully secured extra co-investments to facilitate its growth in 2020.Hashtag: #MediConCen #HSBC #Insurtech #newfunding #seriesA #Insurance #claim #AI #blockchain





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.

News from Asia

Tenchijin Named Finalist for IVS2025 LAUNCHPAD

Exhibiting at IVS Startup Market to Showcase Advanced Water DX Solutions TOKYO, JAPAN - Media OutReach Newswire - 30 June 2025 - Tenchijin Inc...

ESET and Canon Extends Regional Alliance to Combat Asia’s Security Challenges

SINGAPORE - Media OutReach Newswire - 30 June 2025 – ESET Asia Pte. Ltd. ("ESET"), a global leader in cybersecurity, and Canon Singapore Pte. Ltd. ("Canon") today announced the signing of a Memora...

Counterfeit and Refurbished Transducers Pose Serious Safety Risks

Merz Aesthetics® Hong Kong Launches Ultherapy® Authenticity Verification Reward Program This August Consumers Urged to Verify Ultherapy® Transducers Authenticity for Safe and Effective Treatments H...

Porsche Design Tower Bangkok and Curvistan Bangkok Host an Exclusive Preview of the "Electrifying Past. Present. Future." Exhibition

BANGKOK, THAILAND - Media OutReach Newswire - 28 April 2025 - Porsche Design Tower Bangkok showcased its commitment to innovation by hosting an exclusive evening reception with Curvistan Bangkok, ...

Hong Kong: Bridging Business Opportunities under the Belt and Road Initiative

HONG KONG SAR - Media OutReach Newswire - 30 June 2025 - As a global trade and financial centre and a key link in the Belt and Road Initiative (B&RI), Hong Kong plays a pivotal role in connect...

Octa Black: Octa broker's premium trading experience

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 1 July 2025 - Octa, a globally regulated and trusted broker since 2011, rewards its high-value clients in Indonesia, Malaysia, and Nigeria with a...

Gaw Capital Appoints Nicholas Toh as Managing Director – Head of Data Centre Platform, Asia (Ex-China)

SINGAPORE - Media OutReach Newswire – 1 July 2025 – Gaw Capital Partners, a leading multi-asset investment management firm, is pleased to announce the appointment of Mr. Nicholas Toh as Managin...

Prime Immigration Consultancy Announces Expansion of Service Offerings to Help Clients Achieve the Singapore Dream

SINGAPORE - Media OutReach Newswire - 1 July 2025 - Prime Immigration Consultancy (PIC), a Singapore-based immigration consultancy, has announced an expansion of its services to provide more comp...

ICONSIAM in Collaboration with Shanghai Yuyuan Tourist Mart Group Brings China’s Most Iconic Lantern Festival to Thailand for the First Time

“Yuyuan Lantern Festival 2025” Lights Up Bangkok to Celebrate 50 Years of Thai–Chinese Diplomatic Ties BANGKOK, THAILAND - Media OutReach Newswire - 1 July 2025 - ICONSIAM, the global landmark al...

SIBUR to expand cooperation with clients in Bangladesh

MOSCOW, RUSSIA - Media OutReach Newswire - 1 July 2025 - SIBUR, Russia's largest producer of polymers and synthetic rubbers, sees potential to increase supplies to Bangladesh following the launch ...

Demand for Home Batteries surges as Federal Rebate Kicks In

A leading provider of energy solutions VoltX Energy has seen a 400% increase in demand for home batteries in the past three weeks as people put d...

Why Sport Remains the Safest Bet in an Uncertain World

When Rome was in crisis, its leaders did not retreat to the Senate. They went to the circus. To the chariot races. To the gladiators. Sport was no...

THE FINE LINE WITHIN HILARIOUS SIGNAGE DESIGN FAILS

It seems like design failures still occur in today’s modern branding era, despite rigorous rounds of approvals behind the scenes. One signage show...

Deputy Announces Exclusive Global Partnership with Predelo to Bring AI to Shift-Based Businesses

Deputy, the global people platform for shift-based businesses, has announced an exclusive partnership with Predelo, an AI Decision Agent-as-a-Serv...

Leftover Budget? The Last-Minute EOFY Tip to Drive Business Success in FY25/26

The countdown is on. With just days left until EOFY, now’s the time to make your remaining 2024–2025 budget work harder and smarter. After workin...

pay.com.au appoints new CEO and Managing Director

The former COO will lead the company’s next growth phase, with ex-CEO Edward Alder transitioning into the role of Managing Director AUSTRALIA, 25...

Sell by LayBy