Here’s how UP Fintech’s Q1 2025 performance signals a fintech power shift in global

UP Fintech Holding Ltd., better known as Tiger Brokers, has roared into 2025 with a results sheet that not only redefines its growth narrative but signals a paradigm shift in how next-generation fintech platforms are competing for global capital and investor mindshare. For a company that began its journey as a cross-border brokerage, Tiger has now emerged as a full-stack wealth-tech player, integrating AI, crypto, derivatives, IPO syndication, and portfolio management into one sprawling global investment ecosystem.

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Revenue hits historic high

For Q1 2025, Tiger clocked USD 122.6 million in total revenue, marking a staggering 55.3 per cent year-over-year (Y-o-Y) growth. More impressively, its non-GAAP net income hit USD36 million, up 145 per cent Y-o-Y and 18.3 per cent quarter-over-quarter (Q-o-Q)—its highest ever. Every performance metric outpaced expectation: 2.53 million global accounts, 1.15 million funded clients, and a trading volume explosion of 154.6 per cent Y-o-Y to USD217.5 billion.

This isn’t just top-line exuberance — it’s bottom-line conviction. Tiger is building a financial flywheel: client assets surged to USD45.9 billion, up nearly 40 per cent Y-o-Y, powered by robust net deposits of USD3.4 billion and high-value clientele, especially in Greater China and Hong Kong. The Company underwrote 4 Hong Kong IPOs, including BrainAurora Medical Technology, Contiocean Environment Tech Group, Chifeng Gold and Nanshan Aluminum.

A Borderless Brokerage

UP Fintech's growth story is not regionally confined — it's strategically distributed.

• Singapore saw US options trading volume skyrocket by 127.7 per cent Y-o-Y, and Tiger secured three AAA Digital Awards from The Asset, underscoring its regional dominance in digital finance.
• Hong Kong delivered an HNW clientele boom, with average net inflows over USD30,000 per new funded client. Local stock and options trading surged by 78 per cent and 10x Q-o-Q, respectively.
• The US subsidiary, TradeUP, reported a 131 per cent Q-o-Q jump in trading volume, a testament to its growing traction in the world's most competitive equity market.
• Australia and New Zealand clocked 37–74 per cent Y-o-Y growth in funded clients and trading accounts, aided by local award wins and strong product-market fit in the ASX and ETF segments.

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This cross-border strength reveals an evolved strategic DNA—Tiger isn’t merely offering international trading; it’s localising experiences globally, which is especially critical as investor sophistication deepens post-pandemic.

IPO syndication and investment banking

One of the most underappreciated engines of Tiger's Q1 performance was its IPO distribution and investment banking unit. The company participated in the top three Hong Kong IPOs by fundraising volume, including the record-breaking Mixue Group IPO, where Tiger managed a jaw-dropping HKD100 billion subscription volume with an average leverage of 108x.

This is not retail frenzy — it’s platform influence at institutional scale. Tiger is not just brokering access; it is shaping the access paradigm.

AI, crypto and wealth

Tiger's pivot from a brokerage-first platform to an intelligent wealth tech ecosystem is taking clearer shape.

• TigerAI, the newly upgraded investment assistant, now offers real-time portfolio, options, and watchlist analytics, making investing smarter and more personalised.
• Crypto capabilities were expanded in Hong Kong, allowing deposits and withdrawals of BTC and ETH, neatly aligning with the city’s evolving Web3 regulatory openness.
• Wealth penetration among new clients reached 22 per cent globally and 31.5 per cent in Hong Kong, signalling strong uptake of cash management tools like Tiger Vault, which saw 113 per cent growth in HKD-denominated products.

This reflects Tiger’s ability to position itself as a digitised alternative to private banking—scalable, tech-driven, and multi-asset.

TradingFront and structured products

Tiger’s TradingFront Turnkey Asset Management Platform (TAMP) is gaining ground among wealth managers and institutions. With double-digit AUC growth and a 53.6 per cent Q-o-Q rise in structured note volume, the platform is becoming a key enabler for fund managers looking to diversify into bespoke notes like Sharkfin, DQ, and SDFCN.

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In parallel, the structured product business across Tiger’s direct and B2B platforms saw a 42 per cent Q-o-Q growth, largely driven by demand from HNW clients seeking risk-mitigated alpha.

Strategic foresight

While most brokerage firms follow the market, Tiger’s asset management arm led the narrative with a prescient “Rise of the East” outlook, warning of a U.S. equity pullback and spotlighting opportunities in China’s AI economy. The call not only attracted investor attention but built brand credibility among sophisticated asset allocators.

The bigger picture

Tiger is not just stacking features — it’s converging verticals. With over 10 million users, operations spanning six key geographies, and 81 regulatory licenses, Tiger is arguably Asia’s most borderless and vertically integrated fintech platform.

Unlike legacy brokers still locked into regional models or challenger platforms over-reliant on retail trading, Tiger is monetising trust and technology at scale. Whether it's IPO distribution, derivatives, crypto, AI-driven wealth tools, or ESOP SaaS (which grew 45.4 per cent Y-o-Y), every layer of Tiger’s business reinforces its ambition to own the lifecycle of modern wealth.

In Q1 2025, UP Fintech didn’t just report a strong quarter — it redefined what a brokerage can become. At a time when macro uncertainty is prompting caution, Tiger doubled down on scale, sophistication, and service. The company’s leap from a discount brokerage to a financial intelligence platform is not only reshaping investor experience, but potentially redrawing the competitive map of global fintech.

With its eyes on both institutional scale and individual relevance, Tiger Brokers is making it clear: the next chapter of investing won’t be written on Wall Street or in Silicon Valley — it may well be authored from a touchscreen in Shanghai, Singapore, or Sydney, via the Tiger Trade app.

Note: This article is a feature based on the information gathered from UP Fintech Holding Limited. It is not financial advice. Talk to a registered financial expert before making investment decisions.