Balance Hero doubles H1 revenue, triples operating profit.

Seoul, South Korea - South Korean fintech firm Balance Hero reported a 100% year-on-year increase in first-half revenue to KRW 66.7 billion ($49.1 million), driven by solid growth in its machine learning-based lending platform.

The company's operating profit surged 250% to KRW 17 billion ($12.5 million), surpassing its full-year 2023 figure of KRW 16 billion.

Total loan disbursements reached KRW 340 billion ($250.3 million), with the platform business accounting for 32% of the total.

Cheolwon Lee, Founder, CEO, and founder at Balance Hero Co., Ltd, said, "We are experiencing rapid growth in scale and profit as we evolve into a full-fledged financial platform."

Balance Hero plans to expand its product offerings to include insurance and other financial products in the year's second half.

The company's alternative credit scoring system has increased loan approval rates tenfold while reducing risk by up to 40% compared to traditional assessment methods.

* US$1=KRW 1,358.16