U-BX Technology recently raised $10 million by offering 2 million shares at $5 per share as planned. The company offers various services to insurance companies in China, including digital promotion services, risk assessment services, and value-added bundled benefits.
Through its proprietary algorithmic model, U-BX Technology can generate individualized risk reports based on factors such as vehicle brand, model, travel area, and vehicle age. The company serves more than 300 city-level property and auto insurance carriers nationwide, as well as around 200,000 insurance brokers who use its products and services for their daily business operations.
U-BX Technology is planning to list on the Nasdaq under the symbol UBXG with EF Hutton as the sole bookrunner on the deal. The company’s successful fundraising and planned listing are indicative of its solid business model and potential for growth in the insurance industry.