NEW YORK, Oct. 27, 2018 (GLOBE NEWSWIRE) -- Pintec Technology Holdings Limited (“PINTEC”; NASDAQ: PT), a leading independent technology platform enabling financial services in China, today celebrated the completion of its initial public offering (IPO) as its shares began trading on The Nasdaq Stock Market under the symbol “PT”.
PINTEC is a technology company that enables its partners to provide financial services to end users more efficiently and effectively. PINTEC connects its business partners and financial partners on its open platform, providing them with the capability to add a financing option to their product offerings and helps its partners adapt to the new digital economy through access to the online population. PINTEC offers point-of-sale financing solutions, personal installment loan solutions, business installment loan solutions, wealth management solutions and insurance solutions that are tailored to the needs of their partners. PINTEC’s open platform provides tool options to supplement these solutions.
“Today is a special and exciting day for PINTEC, and it is a great honor for the company to be listed on Nasdaq,” said PINTEC founder and CEO William Wei. “We worked very hard to get here. We will continue with this spirit, as we always have in the past, to generate value for our old and new shareholders by fulfilling our vision and mission, that is, to enable more financial and business institutions by integrating the most innovative financial technologies, and providing the most efficient and effective financial services to end users around the world.”
PINTEC provides various lending solutions and wealth management solutions to 183 business partners and 83 financial partners. The company’s scalable and reliable technology infrastructure enables a very high degree of automation. PINTEC’s advanced and customized risk management capability is driven by its proprietary credit approval engine, and strong risk management expertise. The company’s wealth management solutions include asset sourcing, product distribution and robo-advisory modules.
“Technology has revolutionized the way that financial services are provided today and China’s entrepreneurs have played a major role in this industry growth,” said Bob McCooey, Chairman of Asia Pacific, Senior Vice President of New Listings and Capital Markets, Nasdaq. “As home to the world’s most innovative companies, Nasdaq is proud to be the exchange partner for PINTEC’s unique platform, vision, and global ambition. We look forward to their continued success as they make their mark on the world stage.”
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PINTEC is a leading independent technology platform enabling financial services in China. It aims to leverage technology to advance financial services and to level the playing field by providing customizable and modular fintech solutions to institutions and their customers. In fields such as online travel, e-commerce, telecommunication, online education, SaaS platform, financial technology, internet search and online classifieds and listings, PINTEC provides solutions in relation to consumer finance, small and medium enterprises loans, wealth management and robo-advisory solutions, and online insurance product. PINTEC has launched two joint ventures to serve the Southeast Asian market: Avatec.ai (S) Pte. Ltd, formed in 2018 to offer credit services and solutions, while PIVOT Fintech Pte. Ltd (“PIVOT”), formed in 2017 to provide robo-advisory services. As of June 30, 2018, PINTEC had 183 business partners and 83 financial partners, including Qunar, Ctrip, China Telecom BestPay, Vip.com, Xiaomi and Minsheng Securities. For more information, please visit www.pintec.com
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