WeLab
Funding History
| Series A · 01/2015 | $20M |
|---|---|
| Series B · 01/2016 | $160M |
| Series C · 12/2019 | $156M |
| Series C-1 · 03/2021 | $75M |
| Series D · 01/2026 | $220M |
About
WeLab is a Hong Kong-headquartered pan-Asian fintech and digital banking group, founded in 2013 by Simon Loong, Kelly Wong, and Frances Kang.
- founded
- 2013
- headquarters
- Hong Kong
- totalDisclosedFunding
- $220M most recent round; ~$1B cumulative disclosed since 2015
- usersServed
- 70M+
Overview
WeLab is a Hong Kong-headquartered pan-Asian fintech and digital banking group, founded in 2013 by Simon Loong, Kelly Wong, and Frances Kang.
The company operates WeLab Bank, one of Hong Kong's eight licensed virtual banks, alongside WeLend, its Hong Kong online lending platform, and a consumer-finance joint venture in Indonesia.
WeLab has raised roughly $1 billion in disclosed external financing since inception from investors including Sequoia Capital China, Khazanah Nasional, Allianz X, TOM Group (CK Hutchison-linked), Alibaba Hong Kong Entrepreneurs Fund, China Construction Bank (International), HSBC, and Prudential.
WeLab Bank reached profitability in December 2024, becoming one of the first Hong Kong virtual banks to break even, and in January 2026 the group closed a $220 million Series D strategic financing round described as the largest digital-banking capital raise in Asia in 2025.
WeLab has previously explored a public listing, including a shelved 2018 Hong Kong share sale and renewed IPO discussions around 2021-2022, but remains privately held as of this writing.
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