Affinit

About Affinit

Affinit, formerly known as Balancehero, is a financial technology company that specializes in AI-driven financial services. Founded in 2014 by CEO Lee Cheol-won, the company initially focused on the Indian market, recognizing the opportunity in its developing financial industry. Lee, a serial entrepreneur who previously founded Access Mobile in 2006, saw the potential in India's large, underbanked middle-class population and the spread of smartphones.

The company's flagship product was the "True Balance" app, which gained significant traction in India, achieving 100 million cumulative downloads and becoming known as a "national fintech app". Balancehero rebranded to Affinit in October 2025 to emphasize its focus on AI, FinTech, and IT, and to signal its ambition for global expansion beyond India. Following the name change, the company established a dedicated AI research organization and the position of Chief AI Officer (CAIO) to solidify its identity as a specialized vertical AI company for the financial sector.

Affinit's core business revolves around providing customized financial solutions through its advanced AI platform. It utilizes an Alternative Credit Scoring (ACS) system, which analyzes vast amounts of financial data, alternative data, and over 100 million customer behavior data points to assess an individual's creditworthiness in real-time. This system allows the company to serve customers with little to no formal credit history, providing them with fair and quick access to financial products. The AI also predicts loan approval probabilities and interest rates from various financial institutions, helping users avoid unsuccessful applications. Affinit's business model includes both direct-to-consumer services and a B2B platform that matches customers with partner financial products, brokering over 2 trillion won in unsecured microcredit. This strategy has led to significant revenue growth, with annual sales reaching approximately 140 billion won and an operating margin of 13.3%.

The company's goal is to become a global financial hub, connecting users to a variety of services like loans, insurance, and investments on a single platform. With plans to expand its partnerships in India and enter other developing countries, Affinit also aims to list on the KOSDAQ market.