Youxin Technology, a Chinese provider of digital transformation software and services for retailers, filed on Thursday with the SEC to raise up to $8 million in an initial public offering.
The Guangzhou, China-based company plans to raise $8 million by offering 2 million shares at $4. At the proposed price, Youxin Technology would command a market value of $133 million.
Concurrently, selling shareholders have registered 1.8 million shares via a separate resale prospectus.
Youxin is a software-as-a-service (SaaS) and platform-as-a-service (PaaS) provider focused on helping mid-tier retailers digitally transform their businesses. The company primarily generates revenue from professional services and payment channel services, and in the FY22, it had 25 professional services customers and 183 payment channel services, primarily in the consumer goods, cosmetics, and food and drink sectors.
Youxin Technology was founded in 2018 and booked $1 million in revenue for the 12 months ended March 31, 2023. It plans to list on the Nasdaq under the symbol YAAS. The company filed confidentially on June 2, 2023. Univest Securities is the sole bookrunner on the deal.
