U-BX Technology Raises $10 Million in Funding, Unlocks Nasdaq Listing for Insurance Services in China

U-BX Technology, a leading provider of digital services to insurance companies in China, recently raised $10 million in funding by selling 2 million shares at $5 each. The company offers a range of services, including digital promotion, risk assessment, and value-added bundled benefits to its clients.

One of U-BX Technology’s key differentiators is its unique algorithmic model, which enables the company to generate customized risk reports based on various factors such as vehicle brand, model, travel area, and age. This allows insurance carriers and brokers to make more informed decisions when it comes to underwriting and pricing policies.

U-BX Technology serves over 300 city-level property and auto insurance carriers across China, as well as around 200,000 insurance brokers who rely on the company’s products and services for their daily operations. With this strong customer base in place, the company is planning to list on the Nasdaq stock exchange under the ticker symbol UBXG.

The fundraising round was managed by EF Hutton, who acted as the sole bookrunner for the offering. This successful outcome demonstrates U-BX Technology’s growth and success in the insurance industry in China. As the company continues to expand its offerings and grow its customer base, it is well positioned for long-term success in this rapidly evolving market.