More $$$ for fintech. WeLab, a Hong Kong-headquartered fintech platform that’s also active in Indonesia, just closed a $220M Series D financing round.

• The round was a mix of both debt and equity. 

Investor check. Investors included Prudential Hong Kong, Fubon Bank (Hong Kong), Hong Kong Investment Corporation, TOM Group, Allianz X, and HSBC. 

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👩🏻‍🤝‍👨🏼 Fast facts on WeLab

WeLab operates in three markets under several key brands, including WeLend and WeLab Bank in Hong Kong, various business lines in Mainland China, and Bank Saqu in Indonesia. 

• Collectively, WeLab has over 70M individual users and over 700 enterprise customers. 
• WeLab offers mobile-based consumer financing solutions such as banking, investing, and loan services.

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🤳🏼 SEA expansion

The funds will support product innovation and market penetration in SEA, as well as power the creation of new business lines and support M&A opportunities. 

• WeLab will use the funds to drive the development of AI agents, hyper-personalized capabilities, and modernized marketing approaches. 
• The $$$ will also be used to support the initiatives towards WeLab’s AI-first strategic partnership with Google.