FinVolution [NYSE: FINV] Share Q3 2021 Unaudited Financial Results

FinVolution Group [NYSE: FINV] disclosed the unaudited financial results of the third quarter of 2021 completed September 30, 2021. The company revealed that during Q3, it has reinforced its local partnerships and made over RMB1 billion in transaction volume. Its strategic collaboration with PT Bank Jago grew its loan facilitation capabilities and expanded its presence across different market segments in Indonesia.

During the third quarter of 2021, the company’s total cumulative registered users stood at 135.6 million as of September 30, 2021. The total number of unique borrowers reached 3.9 million as of September 30, 2021. The total number of new borrowers reached 1.18 million. It represents a rise of 190.2% versus the same period of 2020.

Furthermore, its total transaction volume stood at RMB38.1 billion. It represents an increase of 120.2% compared to the same period of 2020. On the other hand, the transaction volume accelerated for total new borrowers reached RMB7.2 billion. It represents a surge of 287.8% compared to the same period of 2020.

In addition, FINV’s number of new borrowers secured in the International Markets was 357.0 thousand. It signifies a surge of 77.6% compared to the same period of 2020. Moreover, the company’s average loan size reached RMB5,102 for the third quarter of 2021, versus RMB4,095 in the same period of 2020.

The company disclosed that it has also entered into a partnership with local e-commerce partners to introduce operations in the Buy-Now-Pay-Later sector. The company is looking ahead to engage in premium quality growth in China while securing huge growth opportunities in international markets.