Balance Hero reports 35.5 billion KRW operating profit last year, up 121% YoY

Expansion of AI Finance Platform Business

BalanceHero, a Korean fintech company that has entered the Indian market, announced on the 31st that it recorded sales of 144.2 billion KRW and an operating profit of 35.5 billion KRW last year based on the Korean General Accepted Accounting Principles (K-GAAP). Sales increased by 70% and operating profit rose by 121% compared to the previous year.

BalanceHero's average sales growth rate over the past five years is approximately 100%. Compared to 2020, last year's sales increased about 16 times. The total loan disbursement amount also grew by an average of 100% annually, reaching 767.7 billion KRW in 2024, about 13 times higher than in 2020. The cumulative loan disbursement amount exceeds 1 trillion KRW.

BalanceHero's sales growth was driven by the expansion of its platform business alongside the growth of its AI-based Alternative Credit Scoring system (ACS) microcredit service. This system allows Indian financial companies to pay fees and use BalanceHero's ACS to sell their products. Platform sales account for 32% of the total.

BalanceHero's core competitiveness lies in its proprietary LLM (Large Language Model) and machine learning (ML)-based ACS, which analyzes users' smartphone data and accumulated payment and loan data to recommend optimized loan products to customers. The ACS enabled 1 billion low- to medium-credit users in India, who have no history with traditional financial institutions or credit scores, to access financial products. It also provides instant financial services through rapid evaluation within about one minute.

BalanceHero's strategy is to secure a leading position as a representative financial platform targeting the rapidly growing 1 billion low- to medium-credit users in India. Lee Cheol-won, CEO of BalanceHero, said, "BalanceHero's service TrueBalance is growing into a platform that all financial companies in India can utilize. The high technological capability and expertise of ACS have evolved to a level that other companies cannot follow, and based on this, we will create a high-growth business with over 50% annual growth."

This content was produced with the assistance of AI translation services.