FinVolution Group Reports 2024 Growth and Global Expansion

FinVolution Group has reported a 4.1% increase in annual revenue to $1.8 billion for 2024, with net profit stable at $327.1 million, announced in a press release. The fintech company also highlighted a 6.1% rise in transaction volume, reaching $28.2 billion, and an outstanding loan balance of $9.8 billion.

The company's international business contributed significantly, accounting for 21.4% of total revenue in Q4 2024. FinVolution acquired 2.2 million new borrowers outside China, marking a 61% year-over-year increase. The international transaction volume exceeded $1.4 billion, with a 31% growth in the outstanding loan balance to $232.9 million.

To support its global expansion, FinVolution secured key financial licenses in multiple markets, including a Non-Banking Financial Company license in Pakistan and a majority stake in an Indonesian multi-finance company. The company also became accredited as a Special Accessing Entity by the Credit Information Corporation in the Philippines.

FinVolution continues to innovate with AI-driven credit technology, registering its proprietary Large Language Model, "Rice Seeds," to enhance credit risk assessment and fraud detection. The company also launched Zeta, an AI-powered application platform, complementing its E-LADF AI development platform, which supports over 1,000 AI applications to improve operational efficiency and user experience.