Hong Kong – WeLab has completed a US$220m series D strategic financing, representing the most significant funding round in the company’s history. The transaction reflects continued investor backing for the group’s regional strategy and long-term growth model.
The round combined both equity and debt and attracted participation from a mix of new investors, alongside continued support from existing shareholders and strategic partners. Participants included Prudential Hong Kong Ltd, Fubon Bank (Hong Kong), Hong Kong Investment Corporation, TOM Group, Allianz X and HSBC.
Proceeds from the financing are intended to support WeLab’s expansion across Southeast Asia, while strengthening its presence in Hong Kong through broader product offerings and faster customer growth. The capital will also be allocated to the development of new business areas underpinned by advanced technologies, ongoing improvements to products and platforms, and the pursuit of selected merger and acquisition opportunities as part of its regional growth plans.
“With operations across three markets and two digital banks in Hong Kong and Indonesia, WeLab has built both scale and depth of operational experience,” Simon Loong, founder and group CEO of WeLab, shared.
“This foundation, proven by our rapid customer growth and market leadership, gives us the strength to capture new opportunities, accelerate expansion, and innovate at pace.”
The funding will further underpin initiatives linked to WeLab’s recently outlined AI strategy and its AI-focused partnership with Google. These efforts are expected to accelerate the deployment of AI-driven capabilities, including intelligent agents, enhanced personalisation and updated marketing technologies, to improve customer engagement and operational efficiency.
The group plans to apply AI-enabled delivery models to support scale, product development and innovation across its operations in Hong Kong, Indonesia’s Bank Saqu and other markets in the region.
With operations spanning multiple Asian markets and digital banking platforms in Hong Kong and Indonesia, WeLab is seeking to leverage its operating experience and customer growth to advance its regional ambitions and contribute to the evolution of digital banking across Asia.
