Facebook Co-founder Eduardo Saverin Funds CXA Insurance and Wellness Market Plans

 

International insurance and wellness start-up, CXA received a $25 million in Series B investment round from Eduardo Saverin’s B Capital Group and EDBI giving the company a total of $100 million to its name. Mr Saverin will join CXA’s board and will be involved in the company’s plans for expansion.

 

Eduardo Saverin comments:

“CXA’s unique business model cuts across three out of four of our focus industries, including health and wellness, financial services and consumer services. The CXA platform offers employers and employees an innovative solution that facilitates deeper and more personalised benefits experiences in the workplace, and enables employees to make better financial choices and more informed wellness decisions.”

 

CXA Founder & CEO, Rosaline Koo announced that the funds will be used in expanding CXA’s reach across the Asian market beyond Hong Kong and Singapore to countries such as China, India, Japan, South Korea, the Philippines, Taiwan, Thailand, Indonesia, and Malaysia.

 

Rosaline Koo comments:

We’re bringing evidence-based wellness into the workplace to improve employee health in order to control rising employer healthcare costs,”

“Instead of just offering advice, we actually deliver solutions to companies by aggregating the providers, the data analytics, and the tools. Our goal is to shift the focus of insurance from treatment to prevention and to empower employees to take personal responsibility for their health.”

 

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