WeLab is a financial technology company that is reinventing traditional financial services by creating seamless mobile lending experiences.
WeLab has been committed to achieving an ambitious vision-to give you a pleasant financial journey, hoping that everyone deserves a positive and pleasant financial experience.
WeLab was founded in 2013 by Simon Loong and Kelly Wong. The company is headquartered in Hong Kong.
WeLab currently operates a suite of consumer fintech products across Asia, including the virtual bank and a lending product in its home city, as well as several types of lending services in mainland China and Indonesia. It also provides technology “enabling” services to traditional financial institutions.
WeLab uses its proprietary risk management technology and advanced AI capabilities to effectively analyzes unstructured mobile big data within seconds to provide innovative financial services and offer consumer financing solutions for individual customers.
WeLab has amassed over 150,000 digital banking customers. Its online lending app for Southeast Asia, Maucash, which it launched through a joint venture with Astra International, has more than three million Indonesian users.
WeLab is backed by Alibaba Hong Kong Entrepreneurs Fund, Allianz X, CK Hutchison’s TOM Group, Khazanah Nasional Berhad, Guangdong Technology Financial Group, ING Bank, Sequoia Capital and others. The company raised $240M in new financing and also acquired Bank Jasa Jakarta (BJJ) on Dec 07, 2021. This new investment brings WeLab's total funding to $896M to date. WeLab gained a $1B valuation after their Series B round raised in Nov 2017.