Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
On 8th May, Sport Covers announced that they had secured around 10 million yuan in their Angel series financing round. Several famous investors including Bright Venture Capital and Great Wall Fund jointly invested in this round. According to Pang Gang, founder and CEO of Sport Covers, the money raised in this round will cover their expenditure of marketing, staff recruitment and building an IT system.
According to Pang Gang, Sport Covers is the first Internet-based company offering sports insurance for people participating in sports. When it was established in late 2015, it obtained around 1 million yuan in the seed round. Pang Gang also reveals that about 6 million people have bought sports insurance from Sport Covers so far.
As well as Sport Covers, there are several companies offering sports insurance in China, such as Suning Insurance, Dubon Insurance and Xiaoyusan. However, as reported by Iyiou, the Chinese sports insurance market is still in its infancy.
Proofread by Sean O Diobhilin
Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
Related coverage
Chinese company to buy a second Dutch football club
10 Oct 2015
23 Aug 2016
Lagardère Sports to expand its Chinese business
23 Aug 2017
Wanda Sports to acquire Lagardère Sports' Endurance Division
23 Jan 2016
Wanda Group gets deeper into sports industry
30 Apr 2015
More from Yutang Sports
Birmingham Welcomes the World as SportAccord 2024 Kicks Off
08 Apr 2024
SPORTACCORD 2024 INSIGHTS: Sport’s Perfect Storm
23 May 2024
SportAccord 2024 - sport as a ‘powerful, transformative tool’ under spotlight at CityAccord
29 Mar 2024
SportAccord scores Summit touchdown with NFL
18 Jan 2024
SportAccord 2024 - MediaAccord is ‘rare opportunity’ to meet before Paris 2024
08 Mar 2024
Yutang Sports
loading...