SEOUL, South Korea - Balance Hero, a South Korean fintech startup operating in India, announced on March 20 that it achieved record revenue of KRW 84.5 billion (US$63.2 million) and operating profit of KRW 16 billion (US$12 million) in its 2023 financial results.
The company has recorded an operating profit for two consecutive years, signaling that it is entering a period of accelerated revenue and profit growth.
From 2020 to 2023, Balance Hero's revenue growth rate is 904%, with a compound annual growth rate of 116%.
Balance Hero primarily provides mobile lending services in India's fast-growing fintech market.
Compared to 2020, the number of digital loans will increase more than ninefold, and the loan amount will grow more than elevenfold, reaching KRW 430 billion (US$321.5 million).
