SHANGHAI, March 18, 2025 /PRNewswire/ -- FinVolution Group (NYSE: FINV), a leading fintech company, today announced its unaudited financial results for 2024, highlighting continued global expansion, strategic collaborations, and advancements in AI-driven credit technology.
FinVolution reported annual revenue of US$1.8 billion, a 4.1% year-over-year increase, with net profit remaining stable at US$327.1 million. Transaction volume reached US$28.2 billion, up 6.1%, while outstanding loan balance rose to US$9.8 billion, also a 6.1% increase.
FinVolution Group's CEO, Tiezheng Li commented, "We successfully leveraged our strengths in technology, customer acquisition, and retention to deliver solid results despite a challenging environment in 2024. These achievements strengthen our confidence for 2025 and beyond—becoming the leading fintech player across the Pan-Asian region."
FinVolution Group's CFO, Jiayuan Xu, stated: "Over the past year, FinVolution achieved solid growth and demonstrated healthy financial performance. In 2024, we allocated US$160.4 million to shareholder returns, accounting for approximately 49.1% of our annual net profit. Since 2018, we have returned a total of approximately US$765 million to our shareholders. This underscores our steadfast commitment to enhancing shareholder value and our strong confidence in the company's business fundamentals and cash flow outlook."
Accelerating International Growth
FinVolution's international business continued its strong momentum, contributing 21.4% of total revenue in Q4 2024. The company acquired 2.2 million new borrowers outside of its Chinese market in 2024, a 61% year-over-year increase, with international transaction volume surpassed US$1.4 billion, while the outstanding loan balance grew 31% to US$232.9 million.
To support its global expansion, FinVolution secured key financial licenses across multiple markets, including:
Strengthening Partnerships and Expanding Financial Inclusion
Following a successful transition to higher-quality borrowers in FinVolution's largest overseas market, Indonesia, transaction volume in the second half of 2024 grew to US$506.9 million, up 11% compared to the first half of 2024. The company also strengthened its funding network, adding Super Bank, bringing its total active funding partners to 10 in Indonesia.
In the Philippines, FinVolution became the first company to introduce institutional funding through its loan facilitation model, collaborating with 5 leading institutional funding partners. The company also expanded its Buy Now, Pay Later (BNPL) services, embedding fintech solutions directly into major e-commerce platforms to enhance financial access for consumers.
Looking ahead, FinVolution aims to generate 50% of its revenue from international markets by 2030 under its "Local Excellence, Global Outlook" strategy. Building on its success in Indonesia and the Philippines, the company is accelerating expansion into Pakistan and other countries in 2025.
Driving Innovation with AI-Powered Credit Technology
FinVolution continues to push the boundaries of AI-driven credit technology, leveraging Large Language Models (LLMs) to optimize every stage of the credit lifecycle. In 2024, the company officially registered its proprietary LLM, "Rice Seeds", designed to enhance credit risk assessment, fraud detection, and customer interactions.
The company also launched Zeta, an AI-powered application platform, complementing its E-LADF AI development platform introduced in 2023. These two platforms have enabled an intelligent ecosystem covering customer acquisition, risk control, and user engagement, supporting over 1,000 AI applications that have significantly improved operational efficiency and user experience:
As FinVolution continues to scale its global footprint, the company remains committed to leveraging cutting-edge AI and fintech solutions to drive financial inclusion and sustainable growth.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
FinVolution Group Reports Strong Growth and Global Expansion in 2024
SAN JOSE, Calif., March 19, 2025 /PRNewswire/ -- Manycore Tech Inc., a fast-growing spatial intelligence company, announced that it has made its multimodal spatial comprehension model, SpatialLM, open-source at the GTC 2025, significantly lowering barriers for training embodied intelligence.
Manycore Tech is the world's largest spatial design platform, with an average of 86.3 million monthly active visitors. It has served more than 45,500 enterprise customers across over 200 countries and regions.
SpatialLM serves as a powerful model that teaches robots how to understand the surrounding 3D environment. It provides a basic training framework for practitioners in the embodied intelligence sector, allowing them to fine-tune the model to fit into specific scenarios as needed.
Global developers can access the open-source SpatialLM on platforms, including Hugging Face, GitHub and ModelScope, to power their research and development of embodied intelligence.
SpatialLM overcomes the limitations of traditional large language models to enhance the machines' ability of understanding real-world geometry and spatial relationships, much like humans do. It can automatically generate structured 3D scenes from videos, based on point cloud data extracted from those videos. It is able to accurately recognize and understand these scenes and translate them into 3D structural layouts.
In the future, SpatialLM will be iterated to be able to handle a wider range of tasks, such as interacting with humans as an intelligent assistant and supporting embodied agents to perform complex tasks in challenging environments.
"We hope to create an embodied intelligence training platform that can support the entire development circle from spatial cognition and analysis to machine-environment interactions," Victor Huang, Chairman of Manycore Tech, said in an interview. "By open-sourcing SpatialLM, we aim to facilitate foundational spatial cognition training for embodied intelligent robots. Meanwhile, we hope that SpatialVerse, the spatial intelligence solution released last year, can enable action and interaction training for robots in simulated environments leveraging synthetic data solutions."
SpatialVerse, is another highlight for Manycore Tech at this year's GTC. It enables developers to train content-generation models in virtual settings and enhance cognitive capabilities of intelligent robots, AR/VR systems, and embodied AI. The platform, along with SpatialLM, provides a versatile system for digital simulations for developing embodied intelligence.
For instance, the SpatialLM transforms real-world data into an abundance of digitally-structured scenes. Such scenes can then be generalized to create as many as trillions of new scenes using the synthetic data engine of SpatialVerse. That enriches the training data while maintaining a high quality of the dataset, which is key to embodied intelligence.
"I believe we'll soon see explosive growth in embodied intelligence, driven by advancements in computing power, algorithms, engineering and training data. By open-sourcing SpatialLM, we hope to contribute to the development of foundational technologies, and help push the boundaries of AI and accelerate the arrival of the singularity." said Mr. Huang.
Manycore Tech has reached cooperation agreements regarding spatial and embodied intelligence training with a number of global embodied intelligence companies, including some leading players in Silicon Valley.
About Manycore Tech Inc.
Founded in 2011 in Hangzhou, Manycore Tech Inc. is a spatial intelligence company powered by artificial intelligence (AI) technologies and purpose-built graphics processing unit (GPU) clusters. Manycore Tech offers a full suite of products, including the spatial design software Kujiale, its international version Coohom, and SpatialVerse, the next-generation spatial intelligence solution for AI development in indoor environments. As of 2024, Manycore Tech has amassed an average of 86.3 million monthly active visitors. It has served over 414,000 individual customers and 45,500 enterprise customers across more than 200 countries and regions.
About SpatialVerse
SpatialVerse is a next-generation spatial intelligence solution for AI development in indoor environments. At its core lies our massive, physically accurate dataset library specifically designed to train sophisticated models through realistic virtual simulations. Users can conduct industrial-scale simulations with multi-sensor compatibility and achieve high-fidelity RTX rendering aligned with NVIDIA Isaac Sim's OpenUSD framework. This technology, which bridges digital simulations and physical reality, accelerates AI development while reducing real-world testing costs.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Manycore Tech Makes SpatialLM Open-source to Empower Embodied Intelligence Training
