B3i, the blockchain technology company owned by 17 major global insurers, has a new investor, China Pacific Insurance (CPIC). CPIC’s representative, Li Hao joins the B3i board. The blockchain firm did not disclose the terms of the deal.
However, the previous investors in the current round contributed on average $1.3 million each. Additionally, IRB Brasil Re stated during an earnings announcement on August 5th that it has agreed to acquire 8.93% of B3i Services for €3.5 million ($3.9m). That values the company at €39 million ($43.5m).
CPIC is the first Chinese investor, although B3i already boasts two Asian shareholders in co-founder Tokio Marine and more recently, SBI Group.
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