Zhibao Technology Inc., operating through its various affiliated entities, offers online insurance brokerage services across the Chinese market. Beyond this primary activity, the company also furnishes managing general underwriter (MGU) capabilities, provides healthcare provisions, and delivers advisory services for conventional, in-person insurance brokerage. Established in 2015, the firm is headquartered in Shanghai, China.
Zhibao Technology Inc. Announces Closing of $154.7 Million PIPE Financing
Zhibao Technology closed a $154.7 million PIPE financing, issuing 442 million units at $0.35 per unit to a syndicate of non-U.S. investors.
The transaction was settled with 2,380 Bitcoins valued at a reference price of $65,000 each; each unit consists of one Class A Ordinary Share and one two-year warrant.
Proceeds will strengthen the company's financial foundation and accelerate growth in its InsurTech platform, with an F-1 registration statement expected within 45 days.