Headquartered in Shanghai, China, FinVolution Group (FINV) operates an online consumer finance platform. The company’s products and services include loan services and investment services. In comparison, Beijing, China-based UP Fintech Holding Limited (TIGR) provides online brokerage services focusing on Chinese investors. Its brokerage platform allows investors to trade stocks, options, warrants, and other financial instruments. It also provides asset management, trade execution, ESOP management, asset custody, margin financing, and other services.
Thanks to the remote lifestyles, the fintech industry has witnessed steady growth since the onset of the COVID-19 pandemic. Fintech companies are gaining prominence worldwide due to the convenience they offer in administering financial transactions. Innovations in the fintech space have forced traditional banks and financial institutions to make technology investments to stay relevant and competitive. Furthermore, relatively newer trends, such as buy-now-pay-later (BNPL), neo banks, and platform-as-a-service (PaaS) are expected to fuel the industry’s growth in the coming years. The global fintech market is expected to grow at a 25.1% CAGR to $324 billion by 2026.
