UP Fintech Sets New Record Highs with 77.3% and 43.7% Year-Over-Year Revenue Growth in Q4 and Full Year 2024
New York, NY, March 18, 2025 – UP Fintech Holding Limited (NASDAQ: TIGR), a leading financial technology company, announced its financial results for the fourth quarter and full year ended December 31, 2024. The Company reported impressive growth figures, with a revenue of US$124.1 million in the fourth quarter, representing a 77.3% increase year-over-year (YoY). This growth was fueled by the strong performance of its business segments, which collectively contributed to a full-year revenue of US$391.5 million, a 43.7% YoY increase.
Strong Fourth Quarter Performance
The robust revenue growth in the fourth quarter was driven by several factors. The Company’s digital lending business, which accounted for the majority of its revenue, continued to experience strong demand, resulting in a 78.9% YoY increase in loan origination volume. UP Fintech’s wealth management business also performed well, with net openings of wealth management products increasing by 124.5% YoY.
Full Year 2024 Financial Highlights
The full-year financial results showed that UP Fintech’s growth trajectory remained strong throughout the year. Its loan origination volume increased by 55.4% YoY, while net openings of wealth management products grew by 108.8% YoY. The Company’s net income for the full year was US$168.3 million, representing a 34.7% YoY increase.
Impact on Individuals
The impressive financial performance of UP Fintech could have several positive implications for individuals. As the Company continues to expand its digital lending business, it may offer more accessible and convenient financing options for consumers. Additionally, the growth of UP Fintech’s wealth management business could provide more opportunities for investors to grow their wealth through innovative financial products and services.
Impact on the World
The financial technology sector, and digital lending in particular, is poised for significant growth in the coming years. UP Fintech’s strong performance is a testament to the growing demand for digital financial services. This trend is expected to continue as more consumers turn to digital channels for financial services, particularly in emerging markets where access to traditional financial institutions is limited. Moreover, the increasing adoption of artificial intelligence and machine learning in financial services is expected to drive innovation and efficiency, making financial services more accessible and affordable for individuals around the world.
Conclusion
UP Fintech’s impressive financial results for the fourth quarter and full year 2024 highlight the growing demand for digital financial services and the potential for innovation in the financial technology sector. The Company’s strong performance in digital lending and wealth management is a testament to its ability to adapt to changing consumer preferences and market trends. As digital financial services continue to gain popularity, individuals are likely to benefit from increased access to financial services and innovative financial products and services. The world, too, stands to gain from the efficiency and affordability that digital financial services can offer, particularly in emerging markets where traditional financial institutions may be limited.
- UP Fintech reported a 77.3% YoY increase in revenue to US$124.1 million in Q4 2024
- Full-year revenue reached US$391.5 million, a 43.7% YoY increase
- Digital lending business experienced a 78.9% YoY increase in loan origination volume
- Wealth management business saw a 124.5% YoY increase in net openings of wealth management products
- Net income for the full year was US$168.3 million, a 34.7% YoY increase
- Growing demand for digital financial services and innovation in the financial technology sector are expected to drive continued growth
- Individuals are likely to benefit from increased access to financial services and innovative financial products and services
- The world stands to gain from the efficiency and affordability that digital financial services can offer, particularly in emerging markets
