Hong Kong based mobile lender WeLab raised $220mn in a series B financing; investors in the round include Alibaba Hong Kong Entrepreneurs Fund, CreditSuisse, the World Bank’s International Finance Corporation (IFC) and others; they plan to use the funds for improving credit technology and look to expand globally. Source.
WeLab is one of eight virtual banks that have received banking licenses from the Hong Kong Monetary Authority this year;...
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WeLab is ready to become one of the first companies to apply for a virtual banking license in Hong Kong;...
WeLab is helping consumers get access to their HK$10,000 handouts before they would receive it directly from the government; the...