# WeLab

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/welab

- Industry: Financial Services
- Headquarters: Hong Kong SAR - China
- Website: www.welab.co/
- Total disclosed funding: $849M
- Latest round: Series D (Jan 15, 2026)
- Investors on record: 17

## About

Founded in 2013 and based in Tsat Tsz Mui, Hong Kong, WeLab Holdings Limited, trading as WeLab, functions as a fintech group focusing on digital banking and consumer finance. The company was established by Frances Kang, Kelly Wong, and Simon Loong. It has completed a total of 10 deals since its inception and has expanded operations in regions including mainland China, Thailand, and Indonesia, enhancing its digital banking presence. In January 2026, WeLab raised USD 220 million in series D funding from new investors Prudential Hongkong, Hong Kong Investment Corporation, Taipei Fubon Commercial Bank, The Hongkong and Shanghai Banking Corporation Limited, returning investors TOM Group Limited, Allianz X and other investors.

WeLab offers a broad range of financial technology services, including the operation of WeLab Bank, the first licensed virtual bank in Asia, and various consumer finance solutions. Their offerings are designed to streamline consumer lending and provide B2B financial technology solutions. Notably, WeLab Bank features innovations like the "Apple Products Financing Plan," catering specifically to customers in Hong Kong. With over 70 million registered users and more than 700 corporate clients, WeLab aims to empower individuals and businesses throughout Hong Kong, mainland China, and Indonesia via advanced financial solutions.

WeLab generates revenue from multiple channels, including consumer lending, virtual banking services, and B2B fintech solutions. Its flagship services like WeLend and WeLab Bank facilitate consumer loans and offer banking services directly to users. Revenue is primarily derived from processed loans that accrue interest and from partnerships with financial institutions leveraging WeLab's proprietary risk management and analytics technologies, positioning WeLab as an influential player in the fintech landscape.

The company will use the latest funding to expand its business in Southeast Asia, and to support its previously announced artificial intelligence (AI) vision by providing a wider range of financial products and accelerating customer growth.

## Funding rounds

- Series D, Jan 15, 2026, $220M — TOM Group Limited, The Hongkong and Shanghai Banking Corporation Limited, Allianz X, Prudential Hongkong, Hong Kong Investment Corporation, Taipei Fubon Commercial Bank
- Series C, Mar 8, 2021, $75M — Hong Shan, International Finance Corporation, Khazanah Nasional Berhad, CCB International, TOM Group Limited, Allianz X
- Series C, Dec 12, 2019, $154M — CCB International, Alibaba Entrepreneurs Fund
- Series B, Nov 8, 2017, $220M — Credit Suisse, CCB International, [DUP] International Finance Corporation, Alibaba Entrepreneurs Fund
- Series B, Jan 20, 2016, $160M — International Finance Corporation, ING Bank, Guangdong Technology Financial Group, Khazanah Nasional Berhad, Lakestar
- Series A, Jan 8, 2015, $6M — Hong Shan, ICONIQ Capital, TOM Group Limited
- Series A, Jun 16, 2014, $14M — Hong Shan, TOM Group Limited

## Investors

- Hong Shan — Series A, Series C
- TOM Group Limited — Series A, Series C, Series D
- ICONIQ Capital (https://capitalatlas.ai/funds/iconiq-capital) — Series A
- International Finance Corporation — Series B, Series C
- ING Bank — Series B
- Guangdong Technology Financial Group (https://capitalatlas.ai/funds/guangdong-technology-financial-group) — Series B
- Khazanah Nasional Berhad — Series B, Series C
- Lakestar (https://capitalatlas.ai/funds/lakestar) — Series B
- Credit Suisse (https://capitalatlas.ai/funds/credit-suisse) — Series B
- CCB International (https://capitalatlas.ai/funds/ccb-international) — Series B, Series C
- [DUP] International Finance Corporation — Series B
- Alibaba Entrepreneurs Fund (https://capitalatlas.ai/funds/alibaba-entrepreneurs-fund) — Series B, Series C
- Allianz X (https://capitalatlas.ai/funds/allianz-x) — Series C, Series D
- The Hongkong and Shanghai Banking Corporation Limited — Series D
- Prudential Hongkong — Series D
- Hong Kong Investment Corporation — Series D
- Taipei Fubon Commercial Bank — Series D