Zhibao Technology, a digital insurance brokerage based in China, recently completed an initial public offering (IPO) that raised $6 million by selling 1.5 million shares at $4 each. Despite having originally planned to offer only 1.2 million shares, the company unexpectedly sold an additional 0.3 million shares, resulting in an IPO of just 4.7% of the total outstanding shares.

Operating under the umbrella of the Zhibao China Group, the company specializes in providing digital insurance brokerage services in China using a business-to-business-to-consumer (2B2C) digital embedded insurance model. This model involves offering a customized one-stop insurance brokerage service where insurance solutions are digitally embedded into the customer engagement matrix of business entities to effectively reach and serve their existing customer base.

Zhibao Technology first launched its digital insurance brokerage platform in 2020 and offers a range of services, including insurance brokerage services and general insurance management services. The company plans to list on the Nasdaq under the symbol ZBAO, with EF Hutton serving as sole bookrunner for the deal.

By Samantha Johnson

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