U-BX Technology, a company that offers digital services to insurance companies in China, has recently raised $10 million through the sale of 2 million shares at $5 each. The company provides a range of services including digital promotion, risk assessment, and value-added bundled benefits to its clients. Using its unique algorithmic model, U-BX Technology generates customized risk reports based on various factors such as vehicle brand, model, travel area, and age.
With over 300 city-level property and auto insurance carriers across China and around 200,000 insurance brokers relying on its products and services for their daily operations, U-BX Technology serves a large client base. The company is planning to list on the Nasdaq stock exchange under the ticker symbol UBXG. The offering was managed by EF Hutton who acted as the sole bookrunner for the deal.
U-BX Technology’s successful fundraising round and plans for a Nasdaq listing are a testament to the company’s growth and success in the insurance industry in China. With its unique approach to risk assessment and customized solutions, U-BX Technology has established itself as a leading provider of digital services to insurance companies in China.