Hong Kong fintech company WeLab raises $220 million in Series D funding round, led by HSBC Bank

BlockBeats News, January 17th, according to Bloomberg, Hong Kong fintech company WeLab has completed a $220 million Series D financing round, with participation from HSBC, Prudential Hong Kong, Fubon Bank (Hong Kong), Hong Kong Growth Portfolio, Allianz X, TOM Group (CK Hutchison Holdings), and others. The raised funds will be used to expand into the Southeast Asian market and for mergers and acquisitions.

WeLab is a startup/enterprise member of the Hong Kong Web3 Association. Its subsidiary, WeLab Bank, was granted a virtual banking license by the Hong Kong Monetary Authority in 2019 (now known as a digital bank) and is also a member of The Hong Kong Institute of Bankers (HKIB).