Leading online InsurTech company Waterdrop Inc. is reported to be in full preparation for a U.S. initial public offering (IPO) in the next quarter. According to Jiemian News, this development follows a recent valuation of the company at a total worth of tens of billions of dollars, citing people familiar with the matter. 

Disclosed information shows that the Tencent-backed InsurTech startup has gone through five separate rounds of financing, garnering an overall amount of about 3.2 billion yuan.