PINTEC, a China-based financial tech solution provider, has just filed to get listed on the NASDAQ.
The company provides online financial solutions in point-of-sale financing, personal and business installment lending, wealth management, and insurance brokerage.
Revenues are primarily from lending solutions. In 2017, 74.8% of the revenues were from service fees from personal and business installment loans and 24.6% from point-of-sale installment loans.
As of March 2018, it had 179 business customers, mainly online services, and 81 financial partners, including conventional financial institutions and peer-to-peer platforms. High-profile customers include Ctrip, the leading online travel service, and VIP.com, the leading flash sales site.
Its first product was launched in June 2015. In 2016 and 2017, PINTEC solutions facilitated over 8.5 million and 21.3 million loan applications, respectively, and a total of RMB4.8 billion and RMB15.2 billion (US$2.4 billion) in loans, respectively.
In 2016 and 2017, the company recorded RMB54.9 million and RMB568.7 million (US$90.7 million) in total revenue, respectively, and RMB200.5 million and RMB84.9 million (US$13.5 million) in net loss, respectively.
It turned its first profit in the first quarter of this year.