Pinda Posts ₩29.8B Sales Last Year, Cuts Net Loss 82% to Improve Results

Fintech company Pinda is garnering attention for demonstrating robust growth last year, even amidst the challenging market environment of shrinking household loans. Pinda recorded 29.8 billion won in sales last year, achieving a 5% increase compared to the previous year. The core drivers of this strong sales performance were the cumulative commitment amount for personal business loans surpassing 1 trillion won, alongside the strong performance of car-backed loans and policy products. In particular, the ‘Mortgage Refinancing Service’ launched in January last year garnered an explosive market response, leading to a remarkable 109% surge in the combined commitment amount for debt consolidation loans and mortgage loans. The commitment amount from high-credit individuals with credit scores of 900 or higher also increased by 24% compared to the previous year, significantly contributing to profitability improvements. The improvement in profitability is even more remarkable. Operating loss decreased by 52% year-over-year to 6.3 billion won, and net loss decreased by 82% to 4.3 billion won. This is the fruit of continuous efforts in improving operational efficiency and reducing costs. Notably, Pinda achieved a net profit of approximately 243.76 million won and a net operating profit of 23.09 million won in the fourth quarter of last year, breaking the quarterly break-even point and laying the groundwork for a stable financial structure. The secret to sustaining sales growth, despite a 16% reduction in advertising expenses, lay in maximizing marketing efficiency through AI. By leveraging AI-based sophisticated targeting and diversified messaging, Pinda successfully attracted genuine loan applicants and locked them in as loyal customers, achieving a 23% increase in returning users. MyData usability metrics also saw remarkable improvement. The number of new users linking MyData within 30 days surged by 310% year-over-year, and the overall linking rate skyrocketed by 455%. This is interpreted as a result of the advancement of asset and credit management services combining AI and MyData, such as the mortgage and jeonse loan refinancing services and the 'AI Interest Rate Fluctuation Notification Service'. A Pinda official stated, “Having secured a stable financial structure by achieving a turnaround to profitability in the fourth quarter of last year, we will make this year, our 10th anniversary, the inaugural year for business expansion and accelerate the advancement of AI services and the growth of new businesses,” expressing strong commitment to their future growth vision. Pinda plans to further solidify its position as a leader in the fintech market through technological innovation and efficient management strategies.