(Feb 8): 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 US$100 million. Singaporean government investment vehicle EDBI jointly led the US$25 million round in CXA Group alongside Saverin’s outfit, the startup said in a statement Wednesday. CXA is among a growing crop of startups trying to build an online marketplace for health services, from insurance to data management. Saverin will join the board of CXA, which plans to expand to 10 countries across Asia in addition to its current markets of Singapore and Hong Kong. Koo, 55, moved to Singapore before starting CXA in 2013 with S$5 million in savings, after a stint overseeing a 14 country-operation for Mercer Marsh Benefits.

Source: The Edge Markets February 08, 2017 02:48 UTC