Fintech PFCTechnologies (PFCT) surpassed its first monthly break-even point on a management P&L basis in August since its founding.
PFCT said on the 17th that it achieved its first monthly break-even point (BEP) since its founding based on August management P&L (adjusted EBITDA). The growth of the online investment finance platform "Kreple" and the artificial intelligence (AI)-based risk management solution "AIRPACK" drove revenue expansion and profit-and-loss improvement.
PFCT started with a 1.9 billion won loss in the fourth quarter of last year, narrowed the loss to 1.37 billion won in the first quarter of this year and 990 million won in the second quarter, and crossed the break-even point in August. Revenue in the same month came to 1.6 billion won, up 62% from a year earlier, demonstrating the business expansion trend.
Lee Su-hwan, PFCT CEO, said, "We will continue to expand various online investment finance products and AI-based risk management solutions domestically and abroad to leap forward as Asia's top lending tech corporations."