U-BX Technology, a Chinese company that specializes in providing services to insurance companies, recently secured $10 million by selling 2 million shares at $5 each. The company’s offerings include digital promotion services, risk assessment services, and value-added bundled benefits.

U-BX Technology uses an algorithmic model to generate customized risk reports based on various factors such as vehicle brand, model, travel area, and vehicle age. This unique approach has helped the company serve over 300 city-level property and auto insurance carriers across China, as well as around 200,000 insurance brokers who rely on its products and services for their daily operations.

The company is planning to list on the Nasdaq stock exchange under the ticker symbol UBXG. EF Hutton served as the sole bookrunner for the offering. This successful fundraising round and plans for a Nasdaq listing demonstrate U-BX Technology’s growth and success in the insurance industry in China.