VivaTech takes the stage as the world's leading event for tech and startups
19 Jun 2023 18:33
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
Related coverage
Wanda Sports sets up global HQ in Guangzhou
29 Dec 2015
China's ANTA Sports says H1 profit up 20 pct, margin improves
06 Aug 2015
Shenzhen company to sponsor Segunda Liga
20 Jan 2016
Fosun completes takeover of Wolves
22 Jul 2016
Lander Sports reports exponential growth in its sports business
29 Aug 2017
More from Yutang Sports
SportAccord's Interview with Gillian Sanders: Challenges for women in sport
26 Apr 2024
France’s Golden Decade of Sport
14 Jun 2023
Discover the SportAccord Summit sessions!
31 Jan 2024
Discover why SportAccord plays central role for Silvers in strategic partnerships
22 Feb 2024
SportAccord 2024 - sport as a ‘powerful, transformative tool’ under spotlight at CityAccord
29 Mar 2024
Yutang Sports
loading...