Singapore online health insurance gets a shot in the arm from a Facebook co-founder

B Capital and EDBI co-lead $25 million round.

According to Bloomberg, 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.

CXA is among a growing crop of startups trying to build an online marketplace for health services, from insurance to data management. Founded by Chief Executive Officer Rosaline Koo, the daughter of an illegal Chinese immigrant who made his way from Mexico to San Francisco by sea, CXA now has annual revenue of S$10 million ($7 million) and counts 45 Fortune 500 companies among its 500 corporate clients, she said.

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