WeLab is Looking to Raise $250 Million at a $2 Billion Valuation

WeLab is a fintech start-up providing consumer financing and virtual banking solutions. Using its proprietary risk management technology, WeLab analyzes unstructured mobile big data in seconds, thus, offering innovative financial services, as well as consumer financing solutions for individuals. Besides, WeLab offers solutions for B2B clients.

WeLab has already been backed by Sequoia Capital and Hong Kong billionaire Li Ka-Shing. Moreover, among the company’s investors are Allianz (ALVG.DE) and Li Ka-Shing’s Tom Group Ltd.

WeLab, Hong Kong, was founded by Aananth Solaiyappan, Frances Kang, Kelly Wong, and Simon Loong in 2013. The company was established, first, as WeLend, but after that began its operations under the WeLab name, and left WeLend as a standalone product, an online consumer credit lending platform. In 2104, WeLab started expansion in Mainland China and Indonesia. Except for WeLend in Hong Kong, WeLab also has such brands as WeLand Digital in Mainland China and Maucash in Indonesia. Previously, the company had several financing rounds – Series A in 2015, Series B in 2016 and 2017, and Series C and Series C1 in 2019 and 2021 correspondingly.

Previous Post

Voyah Raises $701.5 Million at a $4.21 Billion Valuation

Next Post

Novo Raises $35 Million at a $720 Million Valuation

Related Posts