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UOB to set up $10 mil JV company with China fintech Pintec

Fintech

UOB to set up $10 mil JV company with China fintech Pintec

Michelle Zhu Published on Mon, Apr 16, 2018 / 7:51 AM GMT+8

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SINGAPORE (Apr 16): United Overseas Bank (UOB) is setting up a 60:40 joint venture (JV) company with Chinese fintech firm, Pintec Technology Holdings, for a capital of $10 million.

Pintec runs a technology platform supporting financial services in China. Its solutions range from consumer finance to SME loans, wealth management and robo-advisory.

Upon the establishment of the JV company named Avatec.ai (Avatec), it will become a subsidiary company of UOB.

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