Leidi.com Lei Jianping September 19
Cheche Technology, the substantial controlling shareholder of Beijing Cheche Technology Co., Ltd., an auto insurance technology company, recently completed its merger with Prime Impact Acquisition I (NASQ:PIAI), a special purpose company, and was listed on NASDAQ in the United States.
The price of the new company after the merger was US$841 million, and the common stock financing and trust account balance brought approximately US$22.1 million in income to Cheche Technology.
Cheche Technology is an insurance technology company. The company was founded in 2014 and is headquartered in Beijing. It has established 130 service agencies in 28 provinces, autonomous regions, and municipalities directly under the Central Government. It also has R&D centers in Beijing and Guangzhou. It has received investment from Tencent, Shunwei Capital and other well-known institutions have invested more than 1 billion yuan in venture capital.
The company has a national insurance sales license approved by the China Banking and Insurance Regulatory Commission. Its wholly-owned subsidiaries include Baodafang Technology Co., Ltd., Cheche Insurance Sales and Service Co., Ltd., Cheche Zhixing Automobile Service Co., Ltd., Huicai Insurance Brokerage Co., Ltd., etc.
The company's core executives come from senior managers and senior technical teams from well-known companies such as Huawei, ByteDance, Meituan, PICC, and BlackRock.
Focusing on core technologies such as big data, artificial intelligence, and IoT, the company provides users with products such as digital insurance transaction services, intelligent scene recognition, new energy auto insurance solutions, innovative green auto insurance products, intelligent insurance consultants, AI insurance evaluation, and car owner cloud stewards. Nearly 10 million users have realized premium transactions of more than 20 billion yuan through Cheche Technology’s products.
Cheche not only provides services directly to users, but also provides technology, systems and operational services to Internet companies such as travel, mapping, automobile aftermarket, automobile finance, and medical health, as well as insurance companies, automobile manufacturers, dealer groups, and intermediary industries.
According to materials, Cheche Technology’s revenue in 2021 and 2022 will be US$252 million and US$361 million respectively, and its revenue in 2023 is expected to be US$454 million.
This is another Chinese insurance technology company to go public in the United States after Shuidi Company went public in May 2021.
Zhang Lei, founder, CEO and chairman of Cheche, said: "I am extremely proud of what the excellent team at Cheche has built over the past nine years. Successfully listing on Nasdaq is an important milestone in the execution of our growth strategy. ."
The following is the Cheche Technology Roadshow PPT (edited and processed by Leidi.com):
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