Chinese brokerage firm Up Fintech Holdings, which operates online trading platform Tiger Trade App, is seeking to secure $150 million in its initial public offering (IPO) on Nasdaq.

Up Fintech intends to use the IPO proceeds for product development, sales and marketing activities as well as technology infrastructure.

In addition, the company will use the funds for other capital expenditures such as applying for licenses in other countries to extend its business.

In 2018, Up Fintech’s revenue nearly doubled to $33.6 million.