UP Fintech Holding Limited (NASDAQ:TIGR), a leading online brokerage firm focusing on global investors, also known as Tiger Brokers, today announced its unaudited financial results for the quarter and full year ended December 31, 2021.

Total revenue was US$62.2 million for the fourth quarter and US$264.5 million for the whole year, an increase of 31.7% and 91.0% year over year.

In the fourth quarter the company added 61,400 funded accounts, and for the year 2021, 414,700 funded accounts, exceeding its yearly target of 350,000. The total number of funded accounts at the end of 2021 reached 673,400.

Of the newly funded accounts in the fourth quarter, over 90% came from outside China, and of the 673,400 total funded accounts at the company, over half are from Singapore or other international markets.

Mr. Wu Tianhua, CEO and Director of UP Fintech commented:

“Given we only started to operate in Singapore two years ago, the rapid growth of our Singapore client base demonstrates our execution capability and the growing appeal of our platform across multiple countries and regions”.

Total client assets on Tiger Brokers’ platform increased by 7% year over year to US$17.1 billion due to healthy net asset inflows in the quarter in excess of US$2.0 billion, but declined 17% from the third quarter of 2021 due to mark to market losses on clients’ holdings of Hong Kong listed equities and U.S. ADR companies.

“Our integration of Tiger Brokers (HK) Global Limited (formerly known as Ocean Joy Securities Limited) is underway, however due to the unfortunate outbreak of the pandemic in Hong Kong, our progress has been slower than expected,” Mr. Wu Tianhua said.

He noted that last month Tiger Brokers officially entered Australia. The company views Australia as a vast market that is underserved by traditional financial services institutions and it is confident that its innovative mobile trading platform will be well received by local clients.

The corporate businesses continue to perform well. UP Fintech participated in 22 IPOs in Hong Kong and the U.S. during the fourth quarter. The company also added 51 new ESOP clients this quarter and serve 313 ESOP clients in total as of December 31, 2021.

Mr. Wu Tianhua concluded:

“We remain committed to developing our platform’s wealth management capabilities and continued to add new funds to our Fund Mall from a diverse range of acclaimed asset management companies, enabling clients to allocate their capital globally across multiple strategies. Going forward we will continue to focus on executing on our international expansion strategy as well as enhancing the functionality of our innovative fintech platform. ”