Pintec, a Beijing, China-baased independent technology platform enabling financial services, raised US$103m in financing.
The round was led by Mandra Capital and SINA Corp., with participation from STI Financial Group, Shunwei Capital Partners and ZHONG Capital Holding Group, among others.
The company intends to use the funds to increase investment in R&D, traffic integration, risk management and operations.
Led by William Wei, founder and CEO, Pintec is an independent technology platform enabling financial services in China. The company’s artificial intelligence, big data and blockchain based consumer finance, SME loans, wealth management and robo-advisory, and online insurance solutions are used in fields such as finance, online travel, e-commerce, offline retail payment and business lending.
Based on its lending solutions platform “Dumiao” and robo-advisory solution “Polaris”, Pintec provides fintech solutions for installment payments, individual credit loans, SME loans, wealth management and online insurance. By the end of 2017, it had about 200 financial and business partners including Xiaomi, Qunar, Ctrip, BestPay, Vip.com, Shouqianba, Anbang Finance, Minsheng Securities, Yunnan Trust, Orient Securities, Industrial Consumer Finance, etc.
The company has also launched two joint ventures in Singapore to serve the Southeast Asia market:
– Avatec.ai (s) Pte. Ltd, announced in 2018, provides digital lending technology, while
– Pivot Fintech Pte. Ltd (“Pivot”), announced in 2017, offers wealth management technology.