UBX Technology Raises $10 Million and Prepares for Nasdaq Listing in the Insurance Industry of China

U-BX Technology, a Chinese company that provides services to insurance companies, has recently raised $10 million by selling 2 million shares at $5 each. The company offers digital promotion services, risk assessment services and value-added benefits packages to its clients. Using its unique algorithmic model, U-BKS technology is able to generate customized risk reports based on various factors such as vehicle make, model, travel area and vehicle age.

U-BX Technology serves over 300 city-level property and auto insurance companies across China, as well as approximately 200,000 insurance brokers who rely on the company’s products and services for their daily operations. The company plans to be listed on the Nasdaq Stock Exchange under the symbol UBKSG. EF Hutton handled the deal, which was the sole bookkeeper for the offer.

The successful fundraising round and plans for a Nasdaq listing demonstrate the growth and success of U-BKS Technology in the insurance industry in China.