<article><a href="https://www.dealstreetasia.com/tag/Pintec-Technology-Holdings">Pintec Technology Holdings Ltd</a> (PINTEC), a Chinese financial services technology platform, is looking to raise up to $70 million in an initial public offering on Nasdaq, according to an SEC filing.</article>

<a href="https://www.dealstreetasia.com/tag/Pintec-Technology-Holdings">Pintec Technology Holdings Ltd</a> (PINTEC), a Chinese financial services technology platform, is looking to raise up to $70 million in an initial public offering on Nasdaq, according to an SEC filing.
The company filed for an IPO on Monday, just over a month after it announced raising $103 million in financing led by Mandra Capital and online media company SINA Corp.
PINTEC connects businesses and financial services companies on its platform so they can offer financial services to end-users efficiently. It offers solutions for point-of-sale financing, personal and business instalment loans, wealth management, and insurance.
The company began operations in 2015, but traces its roots to the founding of predecessor Jimu Holdings in 2013. The two business were separated in a 2016 reorganization.
It reported total revenue of RMB 568.7 million ($90.7 million) in 2017, up from RMB 54.9 million in 2016. Revenue in the first quarter of 2018 stood at RMB 279.4 million ($44.5 million), a more than four times increase from a year ago.
PINTEC had about 21 million registered users for its point-of-sale financing and personal and business instalment loan solutions as of March 31, 2018. Since its inception, it claims to have facilitated loans cumulatively worth RMB 23.9 billion ($3.8 billion).
The company said last month that the proceeds from its latest funding round, which also saw participation from a host of investors including STI Financial Group, Shunwei Capital Partners, and ZHONG Capital Holding Group, would be used to increase investments in R&amp;D, traffic integration, risk management and operations.
The funding was the first equity financing for PINTEC since it became an independent entity in September 2016 to focus on developing an independent technology platform focused on financial services.
PINTEC’s filing for a US listing follows an earlier move by fellow Chinese firm Pinduoduo. The Tencent-backed online group discounter is planning to raise up to $1.63 billion from a US listing in what will be one of the biggest US floats by Chinese firms in four years.
Other Chinese tech firms eyeing a listing include online parenting services platform Babytree that filed for an IPO in Hong Kong at the start of the month. Meanwhile, Chinese online credit card management firm 51 Credit Card Inc recently raised approximately HK$931.4 million ($119 million) in its Hong Kong IPO.
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The company filed for an IPO just over a month after it announced raising $103 million in financing led by Mandra Capital and online media company SINA Corp.

SINA-backed Chinese fintech startup PINTEC files for $70m US IPO

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SINA-backed Chinese fintech startup PINTEC files for $70m US IPO

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