• FOUNDING YEAR: 2012
    LOCATION:
    Hong Kong
    REGION:
    Last Update:
    18 Oct, 2019
    Global presence:
    China, Hong Kong, Hong Kong

Description

FOCUS

PRODUCTS & SERVICES:
WeLab offers an online lending platform that enables borrowers to apply for unsecured personal loans. The loans are disbursed through two platforms: 1. WeLend: An online lending platform that offers unsecured personal loans ranging from USD $400-$75,000. 2. Wolaidai: A mobile lending platform that offers unsecured personal loans to both students and salaried workers.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Financial institutions

PEOPLE

FOUNDERS:
Simon Loong
Board Members and Advisors:
Simon Loong, Frances Kang
NUMBER OF EMPLOYEES:
51-200
INVESTORS:
Sequoia Capital, TOM Group, Access Industries, Iconiq Capital, Ule, Yuri Milner, Shou Zi Chew, Guangdong Technology Financial Group, ING Bank, ING Group, Khazanah Nasional, Lakestar
KEY EMPLOYEES:
Simon Loong (CEO), Paul Ip (CRO), Karen Ho (CFO)

TRACTION

VALUATION / MARKET CAP:
$133.33 MM in 2015

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$400 Millions
DATE OF LAST FUNDING:
Jul 2018
TOTAL FUNDING COMMENT:
The company will use the funds to strengthen its operation. (July 2018)
FUNDING SERIES:
SERIES A
$20 Millions Closed: Jan 2015
SERIES B
$380 Millions Closed: Nov 2017
DEBT FUNDING:
$25 Millions
LISTED:
NO
COMMENT:
WeLab has files for a Hong Kong IPO in July 2018.

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