UP Fintech Holding Limited Reports $60 Million in Revenues for Q2 2021

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UP Fintech Holding Limited released its unaudited financial results for the quarter ended 30 June 2021 today. The company saw a substantial jump in total revenue as the number touched $60.2 million, which is 98.7% higher compared to the same period in 2020.

According to the results, total net revenues climbed 95% YoY to $55.4 million in Q2 of 2021. The company added 153,100 funded accounts in the latest quarter, which is 353% higher compared to the second quarter of 2020.

Despite the recent jump in overall revenues and the number of funded accounts, UP Fintech posted a net loss of $21.5 million in the recent quarter, compared to a net income of $4.4 million in the same quarter of 2020.

Commenting on the latest results, Wu Tianhua, CEO and Director of UP Fintech, said: “Market backdrop was relatively weaker compared to the first quarter, but I am happy to report that the Company still achieved substantial expansion in the second quarter. As we continue to invest in our internationalization, there was a significant increase in the number of newly funded accounts and the total account balance.”

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“We added 153,100 funded accounts in the second quarter, an increase of 353.5% year over year and 30.4% quarter over quarter; of these newly acquired accounts, over 60% came from international markets. Total account balance reached US$23.9 billion despite challenging market conditions, nearly triple that of the same period last…

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