Shen Peng: Empowering Change through Tech-Driven Healthcare Innovation
Shen Peng’s entrepreneurial journey is a powerful example of how vision, compassion, and technology can converge to address critical societal needs. From his early career as a senior executive at Meituan to becoming the founder of Waterdrop, Shen has redefined what it means to lead with purpose. His work has revolutionized China’s healthcare crowdfunding and insurance landscapes, offering inclusive and sustainable solutions for millions.
From Corporate Executive to Social Entrepreneur
In 2016, while serving as a founding member of Meituan Waimai—China’s largest food delivery service—Shen Peng witnessed the financial vulnerabilities of frontline workers. A personal encounter involving a company-wide donation drive for an employee’s mother catalyzed a turning point in his career. Moved by the lack of affordable medical support, Shen left Meituan and launched Waterdrop with a bold mission: to make healthcare accessible for all.
Transforming Healthcare Access in China
What began as a small startup quickly evolved into a transformative social enterprise. Within a month of its inception, Waterdrop secured RMB 50 million in angel investment. By 2020, its medical crowdfunding platform had raised over RMB 37 billion (US$5.7 billion), helping 1.7 million patients cover critical medical expenses with the support of 340 million donors.
In 2017, Shen expanded Waterdrop’s scope by launching the Waterdrop Insurance Marketplace. The platform has since enrolled over 19.2 million paying users—significantly improving access to private insurance in a country where penetration rates were historically low. Shen’s leadership has positioned Waterdrop as a frontrunner in social innovation, aligning profitability with ESG principles to address systemic healthcare gaps.
Global Acclaim and Recognized Leadership
Shen Peng’s visionary work has earned him a series of high-profile accolades. He was named in Forbes 30 Under 30 Asia and China, featured on the Hurun Report’s 30×30 Entrepreneur Leaders list (2017, 2018), and selected for Fortune China’s 40 Under 40 list in 2020. Beyond media recognition, he serves as a visiting professor at the Business School of China University of Political Science and Law and is a member of the Young Entrepreneurs Committee of the All-China Federation of Industry and Commerce.
Rooted in Purpose, Inspired by Experience
Born in 1987 in Shandong Province, Shen was introduced to the insurance sector early through his father’s work. A childhood injury and the hours he spent exploring the internet during recovery sparked a lifelong passion for technology. This early exposure laid the foundation for his future endeavors in tech-enabled entrepreneurship.
After graduating from the Central University of Finance and Economics in Beijing, Shen joined Meituan in 2010, where he was mentored by CEO Wang Xing. Rising swiftly through the ranks, he gained firsthand experience in leadership and operations before deciding to dedicate his skills to a more purpose-driven venture.
Leadership Rooted in Values and Vision
Shen Peng is not only a business leader but also a powerful voice for social responsibility. In a 2021 commencement address at the China University of Political Science and Law, he urged students to reject the “lying flat” mindset—a growing trend of resignation among young people in the face of societal pressure. Instead, he championed ambition, persistence, and a sense of duty as the cornerstones of personal and professional success.
Charting a Healthier Future
Under Shen’s leadership, Waterdrop continues to expand its impact. The company is investing in AI-driven risk assessment tools, expanding its insurance partnerships, and exploring global markets—all while staying true to its founding mission of delivering affordable healthcare solutions. As Shen Peng continues to bridge the gap between technology and human welfare, he exemplifies the next generation of leadership: socially conscious, innovation-driven, and deeply committed to creating lasting impact.
Shanggari Balakrishnan, CEO of MORS Group, believes that the best inspiration for young people is other young people. Shen Peng’s drive to succeed and his noble goal of helping people with their medical bills make him the perfect agent of change in the insurance and healthcare industries.
