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Zhibao completes $154.7M private placement funded entirely in Bitcoin

Investors funded the Shanghai-based InsurTech’s round by contributing Bitcoin directly, rather than cash.

Reported · Written up by our desk · Market Structure

Chinese InsurTech firm Zhibao has completed a $154.7 million private placement, with the funding coming entirely in crypto, according to Decrypt.

The Shanghai-based company closed the deal after investors contributed Bitcoin directly, rather than providing cash, the outlet said.

Decrypt reported the transaction supports Zhibao’s reported treasury pivot and that the private placement included 2,380 Bitcoin.

The story adds that the $154.7 million raise was funded entirely in digital assets, highlighting a direct crypto funding approach for a non-crypto company.

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