Shenzhen-based Fintech Company Samoyed Financial Files for USD$80m Stateside IPO

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Shenzhen-based fintech firm Samoyed Financial has filed for an initial public offering in the United States with a view to raising USD$80 million.

According to its prospectus Deutsche Bank, Morgan Stanley and CICC are joint book runners for the deal, with proceeds to be used for customer acquisition, brand development, talent recruitment, technological infrastructure and strategic acquisitions or investments.

Shenzhen-based Samoyed provides balance transfer and credit card management services, as well as credit card discount guidelines.

The company was launched in 2015, and posted 230 million yuan (approx. USD$33.5 million) in revenue for the first half of 2018 for a YoY rise of 176.8%. Net profits for the first half were 25.6 million yuan (approx.$3.7 million).

Samoyed has already raised 200 million yuan in funds to date, following a more than 100 million series B round led by CITIC Capital in January, as well as series A round funding with Fortune Venture Capital and series A+ round funding with Vision Capital and Weiguang Venture Capital in 2016.

 

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