Facebook Co-Founder Backs Singapore Online Health Insurance Startup
- B Capital, co-founded by Saverin, EDBI lead $25 million round
- Saverin joins board of CXA, a health insurance brokerage
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Facebook Inc. co-founder Eduardo Saverin’s B Capital Group has led a new financing round for a Singapore-based online health insurance service that values the startup at $100 million.
Singaporean government investment vehicle EDBI jointly led the $25 million round in CXA Group alongside Saverin’s outfit, the startup said in a statement Wednesday. New investors Royal Philips NV and RGAx, a unit of Reinsurance Group of America Inc., and existing backers NSI Ventures and BioVeda Capital also joined the round.