Jiayin Group, a Chinese online lending marketplace, filed on Wednesday with the SEC to raise up to $57.5 million in an initial public offering.
The company states that it is the third largest individual finance marketplace in China in terms of transaction volume in the first half of 2018 for mid-to long-term loans, according to iResearch.
The Shanghai, China-based company was founded in 2011 and booked $427 million in revenue (24% operating margin) for the 12 months ended September 30, 2018. It plans to list on the Nasdaq under the symbol JFIN. Jiayin Group filed confidentially on July 30, 2018. Roth Capital and Shenwan Hongyuan Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
