PINTEC Raises $103 Million, Announces Strategic Partnership With Sina to Jointly Tap Fintech Opportunities
Summary
PINTEC also established a strategic partnership with SINA to jointly tap the huge fintech opportunities being created by the expansion of Chinas consumer economy.PINTEC, which traces its roots to 2012, was separated from its predecessor in September 2016 in order to focus on developing an independent technology platform that enables financial services as its core competency.The digital transformation of traditional financial institutions is expected to create huge opportunities for technology enablement platforms.The two companies said they hope the partnership can generate great synergy to drive business growth, with PINTECs advanced technologies, established brand and experienced team, together with SINAs advantages in traffic and data.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.