The company didn’t disclose its latest valuation, but people familiar with the matter said in 2022 that it was weighing a new funding round that could value the firm at about US$2 billion. WeLab last tapped markets in 2021, when it raised US$75 million in a funding drive led by Allianz X, the digital investment unit of the German insurer.
(Jan 15): Hong Kong-based financial technology firm WeLab Ltd has secured US$220 million ($283.33 million) from investors including HSBC Holdings plc and Prudential Hong Kong Ltd in its largest round of funding.
The financing comprised both debt and equity. Other investors include Fubon Bank (Hong Kong), Hong Kong Investment Corp, Allianz X and TOM Group, which counts billionaire Li Ka-shing’s CK Hutchison Holdings Ltd as its largest shareholder, WeLab said in a statement.
