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FountainVest leads $32m round for China healthcare app

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FountainVest Partners has led a RMB200 million ($32 million) round of funding for Xingren.com, a Chinese mobile app for doctors to communicate with patients. Existing investors Sequoia Capital and Lightspeed China Partners also participated.

The start-up was founded in 2013 as Kangchufang, serving as a case library for real patients on an anonymous basis and as a communication tool for patients and doctors. Doctors could manage patients' records, while patients are able to book medical appointments with doctors through the app. There have been more than 130,000 certified doctors registered on the platform since inception.

Last year, Sequoia led a $5 billion Series A round for the firm. Prior to that, the start-up secured about $1 million from Lightspeed. Xingren plans to use the fresh capital to upgrade technology and products, as well as to accelerate its market expansion, Martin Shen, founder and CEO of the company, told local media.

Earlier this year, industry peer Huakang Mobile Healthcare raised $200 million from Yungfeng Capital, Shenzhen Cowin Capital, New Horizon Capital and Hunan Haijie Healthcare Investment.

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