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- WeLab
WeLab Valuation, Funding & Investors
WeLab is valued at $1B as of November 2017.
Last WeLab valuation
$1B
Series B · Nov 2017
Last WeLab funding round
$220M
Series D · Jan 2026
Cumulative funding WeLab raised
$1.1B
across 7 funding rounds
Key investors in WeLab
Alibaba Entrepreneurs Fund
Allianz X
TOM Group
HSG
International Finance Corporation
ICONIQ Capital
About WeLab
WeLab is a Hong Kong-headquartered fintech company delivering digital lending and banking services across Asia, powered by proprietary AI-driven risk assessment analyzing mobile behavioral data. Operating in Hong Kong, China mainland, Indonesia, and India, it serves over 60 million users through consumer finance apps and partners with banks like Bank Negara Indonesia for B2B credit solutions. Founded in 2013, WeLab holds virtual bank licenses in Hong Kong and Indonesia, processing loans in seconds with default rates below industry averages.
Founded
2013
HQ
Website
Status
Privately held
Customer focus
B2C & B2B
Revenue model
Product sales
Valuation
$1B (Nov 2017)
WeLab Valuation
WeLab is currently valued at $1B, based on its Series B in November 2017.
The $220M round was led by Alibaba Entrepreneurs Fund and International Finance Corporation, with participation from Credit Suisse.
WeLab valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Nov 2017 | Series B | $1B |
WeLab Funding History
WeLab has raised a total of $1.1B across 7 funding rounds.
WeLab's first fundraising round was a $20M Series A in January 2015. The most recent completed round was a $220M Series D in January 2026.
WeLab funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2026 | Series D | Fubon Bank; Allianz X; HSBC; Hong Kong Investment Corporation Limited; TOM Group | $220M | - | WeLab, a leading pan-Asian fintech platform founded in 2013, completed a $220 million Series D strategic financing round on January 15, 2026, marking the largest digital banking capital raise in Asia for 2025 and the biggest in the company's history. The round included both debt and equity from new and existing investors such as Prudential Hong Kong Ltd, Fubon Bank (Hong Kong), Hong Kong Investment Corporation (HKIC), TOM Group, Allianz X, and HSBC. WeLab operates digital banks including WeLab Bank in Hong Kong and Bank Saqu in Indonesia, alongside services in Mainland China, serving over 70 million retail users and 700 enterprise clients with consumer financing, digital banking, and technology solutions powered by risk management, privacy computing, and AI. The company has prior funding including a $156 million Series C in 2019 and a $75 million extension in 2021 led by Allianz X. Proceeds will fuel Southeast Asia expansion, strengthen Hong Kong operations via diversified products and customer acquisition, develop new AI-driven business lines including agents and hyper-personalization in partnership with Google, upgrade platforms, and pursue strategic M&A to become Asia's leading regional digital bank. WeLab received multiple 2025 industry awards from Euromoney and FinanceAsia. |
| Dec 2021 | Undisclosed stage | - | $244M | - | WeLab is a Hong Kong-based pan-Asian fintech platform offering digital banking, lending, and financial services across Hong Kong, mainland China, and Indonesia, serving over 70 million retail users and 700 enterprise clients. Founded in 2013, it has raised approximately $900 million across 10 funding rounds. WeLab operates brands like WeLab Bank in Hong Kong and Bank Saqu in Indonesia, focusing on wealth tech, insurance solutions via partnerships like Allianz, and AI-driven innovation to scale to hundreds of millions of users by 2032. The company targeted a June 2021 Series C round of $240 million led by General Atlantic, following a $156 million Series C in 2019 and a $75 million Series C1 extension in 2021 led by Allianz X, despite achieving unicorn status earlier. Later developments include a $220 million Series D in early 2026 (closed January 2026), comprising debt and equity from investors like HSBC, Prudential Hong Kong, Fubon Bank, HKIC, TOM Group, and Allianz X, marking Asia's largest digital banking raise that year. This funding supports Southeast Asia expansion, product diversification, customer acquisition, M&A, and AI initiatives including a Google partnership for AI agents and hyper-personalization. |
| Mar 2021 | Series C | Allianz X (lead); Tribe Capital | $75M | - | WeLab, a Hong Kong-based fintech unicorn founded in 2013, completed the initial close of its Series C-1 funding round on March 8, 2021, raising US$75 million led by Allianz X, the digital investment arm of Allianz Group, with participation from other investors including Tribe Capital. This followed a $156 million Series C in late 2019, bringing total funding to over US$600 million from prominent global investors. The round supports WeLab's pan-Asian expansion of digital financial services, including its virtual bank in Hong Kong launched the prior year, lending products in Hong Kong, mainland China, and Indonesia, where it serves around 47 million users in China, 2.5 million in Indonesia, and under one million in Hong Kong. The investment establishes a strategic partnership between WeLab and Allianz to co-develop and distribute investment and insurance solutions across Asia, starting in Hong Kong and potentially expanding to the Greater Bay Area, Indonesia, and Southeast Asia. WeLab's CEO Simon Loong highlighted synergies between WeLab's fintech and digital banking expertise and Allianz's global insurance and asset management capabilities, positioning it as a four-way cooperation to enhance financial wellbeing through digital wealth management and new market products. Allianz X CEO Nazim Cetin praised WeLab's high-performance technology platform and strong customer access in strategic Asian markets. The funding accelerates WeLab's growth amid rising demand for contactless digital services boosted by COVID-19, reinforcing its role in Asia's fintech landscape. |
| Dec 2019 | Series C | Alibaba Entrepreneurs Fund (lead); China Construction Bank | $156M | - | WeLab, a leading Asian fintech company founded in 2013, raised US$156 million in a Series C strategic financing round on December 12, 2019, marking the largest fintech fundraising in Greater China that year. The round included new investors and follow-on investments from five existing backers, such as Alibaba Hong Kong Entrepreneurs Fund (also referred to as Alibaba Entrepreneurs Fund) and China Construction Bank (International), validating the company's growth and future prospects. WeLab operates proprietary risk management technology and AI to analyze mobile big data, providing consumer financing and B2B solutions to traditional financial institutions. Its brands include WeLend in Hong Kong, which held a 13.2% market share as the leading pure online lending platform, and WeLab Digital in Mainland China, which surpassed 41 million registered users with small and micro loan applications up 412% in 2019. The company demonstrated strong performance with WeLend achieving 155% net profit growth in 2019 and recognition as the fastest-growing tech company by revenue in Hong Kong (Deloitte) and #1 Growth Champion in the Greater Bay Area (SCMP). Investors also include Khazanah Nasional Berhad, CK Hutchison's TOM Group, International Finance Corporation, Sequoia Capital, and ING Bank. WeLab continued expanding, securing a $220 million Series D round in 2026 with investors like Prudential Hong Kong, Fubon Bank, HKIC, TOM Group, Allianz X, and HSBC to support Southeast Asia growth, AI development, and operations in Hong Kong (WeLab Bank), Mainland China, and Indonesia, serving over 70 million retail users and 700 enterprise clients. |
| Nov 2017 | Series B | Alibaba Entrepreneurs Fund (lead); International Finance Corporation (lead); Credit Suisse | $220M | $1B | WeLab, a Hong Kong-based fintech founded in 2013, operates online lending platforms including WeLend in Hong Kong and Wolaidai in mainland China, providing intelligent financial services to individuals, small businesses, and institutions. In November 2017, it raised approximately $220-227 million in a Series B+ round combining equity and debt financing, led by Alibaba Hong Kong Entrepreneurs Fund and International Finance Corporation (IFC), with Credit Suisse participating; Alibaba's portion was equity. This brought total funding to $425 million, with proceeds allocated to mobile credit technology investments, business development, innovative models, overseas expansion (e.g., Southeast Asia), AI and automation for fraud detection and customer service, and chatbot WeBot handling 70% of inquiries. By late October 2017, WeLab had over 25 million registered users and USD27.2 billion in online loan applications, partnering with 40 financial institutions. Business volume grew 5.7 times year-over-year in H1 2017, achieving profitability, with plans for an eventual IPO post-profitability and strategic investors. The round aligned with Alibaba's interest in fintech disruption via Ant Financial and Alipay synergies. WeLab targeted unbanked Southeast Asian markets (73% unbanked, high mobile penetration). Later rounds included $156M Series C in 2019 with Alibaba follow-on, reaching unicorn status per Hurun, and a 2025-2026 $220M Series D with HSBC, but these postdate the 2017 event. |
| Jan 2016 | Series B | Khazanah Nasional (lead); ING Group; ING Ventures; Lakestar; Guangdong Technology Financial Group | $160M | - | WeLab is a Chinese mobile lending and credit analytics platform founded in 2013 in Hong Kong that transforms traditional credit services through online and mobile lending experiences. The company operates Wolaidai, one of China's largest mobile lending platforms, and WeLend.hk, Hong Kong's leading online lending platform, providing affordable credit to people unable to obtain financing through traditional banking channels. In January 2016, WeLab raised USD160 million in a Series B funding round led by Malaysian sovereign wealth fund Khazanah Nasional Berhad via its special purpose vehicle Bukit Galla Investments Ltd. The consortium of investors also included ING Bank and Guangdong Financial Technology Group, among others. This investment marked Khazanah's first entry into China's fintech sector, providing exposure to the country's growing consumer loan market. WeLab later expanded its presence by launching WeLab Bank, which obtained a virtual bank license from the Hong Kong Monetary Authority and became the first virtual bank in Hong Kong licensed to offer digital wealth advisory services, with backing from investors including Allianz, International Finance Corporation, CK Hutchison's TOM Group, and Sequoia Capital. |
| Jan 2015 | Series A | ICONIQ Capital; Access Industries; Palm Drive Capital; N Ali Mohamed; Ule; TOM Group; HSG; Yuri Milner | $20M | - | - |
Who has invested in WeLab?
22 investors have backed WeLab across its funding rounds, including Alibaba Entrepreneurs Fund, Allianz X, TOM Group, HSG, International Finance Corporation and ICONIQ Capital.
Lead investors include Allianz X, Alibaba Entrepreneurs Fund, International Finance Corporation and Khazanah Nasional.
WeLab Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Mar 2021 | ||
| 2 | Lead | Nov 2017 | ||
| 2 | Participant | Jan 2015 | ||
| 1 | Participant | Jan 2015 | ||
| 1 | Participant | Jan 2026 | ||
| 1 | Participant | Jan 2026 | ||
| 1 | Participant | Jan 2016 | ||
| 1 | Participant | Jan 2015 | ||
| 1 | Participant | Jan 2015 | ||
| 1 | Participant | Mar 2021 | ||
| 1 | Participant | Jan 2016 | ||
| 1 | Lead | Nov 2017 | ||
| 1 | Participant | Jan 2016 | ||
This data is available for Pro users. Sign up to see all 22 WeLab investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by WeLab
WeLab has acquired 1 company to date.
Last acquisition by WeLab was on December 6th 2021. WeLab acquired Bank Jasa Jakarta for $515M.
Latest Acquisitions by WeLab
| Description | Bank Jasa Jakarta is a Jakarta-based commercial bank in Indonesia that offers consumer loans, SME financing, savings products, and corporate credit lines to meet diverse financial demands. It operates branches in Java and Sumatra, focusing on trade finance and digital payment services. Established in 1970, the bank prioritizes sound financial metrics through deposit mobilization and risk-managed lending portfolios. |
| HQ Country | |
| HQ City | Jakarta |
| Deal Date | 6 Dec 2021 |
| Valuation | $515M |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all WeLab acquisitions and their M&A valuation multiples. Start Free Trial | |
Investments by WeLab
WeLab has invested in 1 company to date.
Latest investment by WeLab was on July 4th 2022. WeLab invested in Bank Jasa Jakarta in their $258M Strategic investment round.
Latest Investments by WeLab
| Description | Bank Jasa Jakarta is a Jakarta-based commercial bank in Indonesia that offers consumer loans, SME financing, savings products, and corporate credit lines to meet diverse financial demands. It operates branches in Java and Sumatra, focusing on trade finance and digital payment services. Established in 1970, the bank prioritizes sound financial metrics through deposit mobilization and risk-managed lending portfolios. |
| HQ Country | |
| HQ City | Jakarta |
| Deal Date | 4 Jul 2022 |
| Round | Strategic investment |
| Raised | $258M |
| Investors | Astra International |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all WeLab investments and their VC round multiples. Start Free Trial | |
WeLab Competitors
WeLab competitors include listed companies like Qfin Holdings and Upbound, and private ones like China Rapid Finance, Dune Analytics, Flashbots and Fumi Technology.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1B | - | ||
| Private | $4M | - | $1B | 250.0x | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $2.4B | - | $989M | 0.8x | ||
| Publicly listed | $4.7B | $1.7B | $1B | 0.6x |
WeLab Public Comps
WeLab is still privately-owned, but its public comps include Arzan Financial Group, Qfin Holdings, Upbound, Standard Chartered Bank Kenya, Yixin Group, Navient, Capricorn Group, World Acceptance, Standard Chartered Bank and Atlanticus.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $37M | - | 32.4x | - | - | - | |||
| $2.4B | - | 0.8x | 0.8x | - | - | |||
| $4.7B | $1.7B | 0.6x | 0.6x | 1.5x | 5.2x | |||
| $323M | - | 3.0x | - | - | - | |||
| $1.7B | $287M | 2.9x | 2.7x | 17.4x | 16.2x | |||
| $610M | - | 74.5x | 75.0x | - | - | |||
| $342M | - | 2.6x | - | - | - | |||
| $536M | - | 2.8x | 2.5x | - | - | |||
This data is available for Pro users. Sign up to see all WeLab competitors and their valuation data. Start Free Trial | ||||||||
Common questions about WeLab
| When was WeLab founded? | WeLab was founded in 2013. |
| Where is WeLab headquartered? | WeLab is headquartered in Hong Kong, Hong Kong. |
| Is WeLab publicly listed? | No, WeLab is a private, VC-backed company. |
| What is WeLab's valuation? | WeLab was last valued at $1B in its Series B in November 2017. |
| How much funding has WeLab raised? | WeLab has raised $1.1B across 7 funding rounds. |
| What was WeLab's last funding round? | WeLab's last funding round was a $220M Series D in January 2026. |
| Who are WeLab's investors? | WeLab's investors include Allianz X, Alibaba Entrepreneurs Fund, TOM Group, ICONIQ Capital, Fubon Bank, HSBC, ING Group, Access Industries, Palm Drive Capital, Tribe Capital and 12 others. |
| Which companies are comparable to WeLab? | Companies comparable to WeLab include China Rapid Finance, Dune Analytics, Flashbots, Fumi Technology, Qfin Holdings and Upbound. |
| How many companies has WeLab acquired? | WeLab has acquired 1 company, including Bank Jasa Jakarta. |
| What was the largest acquisition by WeLab? | The $515M acquisition of Bank Jasa Jakarta in December 2021 is the largest acquisition WeLab has made to date. |
| How many companies has WeLab invested in? | WeLab has invested in 1 company, including Bank Jasa Jakarta. |
| What was WeLab's last investment? | In July 2022, WeLab invested in Bank Jasa Jakarta's $258M strategic investment round alongside Astra International. |
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