Global neobank Fingular surpassed Operational Breakeven in less than 3 years sinceinception, reports 5 million customers
Fingular, a Singapore-based global neobank renowned for accelerating financial inclusion, has achieved a significant financial milestone, marking its rapid ascent in the fintech industry. Launched in late 2021, the neobank reached operational breakeven at the Group level in October 2024 while amassing 5.2 million customers globally. This achievement positions Fingular as one of the fastest-growing neobanks worldwide.
A trailblazer in next-generation digital banking, Fingular operates across Indonesia, Sri Lanka, Malaysia, and India, with ambitious plans to expand into 30 countries by 2030. The company’s remarkable results in 2024 underscore its disruptive approach to financial services.
In Malaysia, a strategic market, Fingular achieved profitability within nine months of inception, launching the country’s first fully online digital lending business. It also secured an advanced digital lending license—a distinction held by fewer than 1% of lending companies globally. Building on this momentum, Fingular unveiled an innovative Buy-Now-Pay-Later service in August.
The company’s rapid global expansion continued with announcements in September and October about entry into Qatar and Bangladesh. These moves align with Fingular’s vision of becoming a leading digital retail bank and addressing financial inclusion challenges in underserved markets.
Recognition of Fingular’s efforts came in November when it was named ‘The Best New Fintech Company in APAC’ and listed among ‘The Next 100 Global Companies’ by the Global Banking and Finance Review. These accolades highlight Fingular’s commitment to delivering technology-driven solutions for underserved communities and addressing the credit gap in emerging markets.
Unlike earlier neobank pioneers such as Nubank, Revolut, and Monzo—who typically achieved profitability 5-8 years post-launch—Fingular’s strategy emphasizes profitability as a foundation for scaling operations.
“Our strategic difference lies in prioritizing profitability before scaling aggressively. Reaching operational breakeven is a pivotal moment for us,” said Maxim Chernuschenko, CEO of Fingular. “We’re focused on scaling our existing markets and launching innovative products. For example, we’re preparing to introduce a revolutionary solution that leverages mobile phones as collateral for favorable loan terms.”
Fingular’s strategic backer, Vadim Gurinov, a Cypriot investor and entrepreneur, added: “We are building the first truly global credit-led neobank for over 2 billion underserved individuals. Even before ramping up, we’ve surpassed 5 million registered customers, showcasing the demand for our convenient and affordable services. We’re excited to drive exponential growth in 2025, expand globally, and develop best-in-class financial products to improve millions of lives.”
With its focus on financial inclusion and innovation, Fingular is poised to redefine the future of digital banking.