Tencent Trusted Doctors raises USD 250 million, bringing valuation past USD 1 billion

Tencent Trusted Doctors will improve its online platform to improve communication between patients and doctors, expand in medicine e-commerce and internet hospitals.

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China’s online-and-offline medical network Tencent Trusted Doctors has raised USD 250 million in a new funding round led by Tencent Holdings, said the tech giant’s investment arm on its official WeChat account.

Country Garden Holdings and Sequoia Capital were also among the investors.

After this fundraising, the company will be valued above USD 1 billion, said Tencent Investment. It was set up in August 2018 resulting from a merger between Tencent Doctorwork and Trusted Doctors. The latter was a professional platform for registered doctors in China and launched in 2014, according to SCMP.

Tencent Trusted Doctors now operates nearly 50 clinics in 8 cities including Beijing and Hong Kong. It also allows 10 million patients to communicate online with 440,000 certified doctors based in more than 30,000 hospitals.

Tencent’s Dowson Tong said medical health is a sector that’s highly valued by his company and that the startup will be able to leverage on Tencent’s traffic and technological support to improve its service.

KrAsia reported earlier this month that Tencent is adding a medical health module to its WeChat Wallet portal, giving users quick access to a bunch of online medical services provided by startups including Tencent Trusted Doctors. The module is not yet available.

Tencent Trusted Doctors’s CEO Wang Shishui said that the company, which has accumulated rich experience in opening bricks-and-mortar clinics, expects to run more than 500 clinics in 2021.

Wang added that Tencent Trusted Doctors will further improve its online platform to improve communication between patients and doctors and expand in medicine e-commerce and internet hospitals.

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Editor: Nadine Freischlad