WeLab

lendingp2p lendingonline loans

FOUNDING YEAR: 2013
LOCATION: Hong Kong
Last Update: 17/07/2020

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About

WeLab is an internet finance company that offers credit risk management tools by leveraging big data analytics and the latest internet technologies. It has developed a proprietary risk management technology that analyzes unstructured mobile data to create credit scores for applicants. It also works with traditional financial institutions and assists them to develop and offer FinTech-enabled solutions to their customers.

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

Company generates revenue by charging an interest rate on the loan amount.

MAIN CLIENTS

Financial institutions

Traction

VALUATION / MARKET CAP:

$133.33 M in 2015

People

FOUNDERS

Aananth Solaiyappan

Kelly Wong

Aananth Solaiyappan

Simon Loong

BOARD MEMBERS AND ADVISORS

Simon Loong

Frances Kang

NUMBER OF EMPLOYEES

201-500

INVESTORS:

Access Industries

Credit Suisse

Guangdong Technology Financial Group

ICONIQ Capital

ING Bank

ING Group

International Finance Corporation

Khazanah Nasional

Lakestar

Sequoia Capital

Sequoia Capital China

Shou Zi Chew

TOM Group

Ule

Yuri Milner

KEY EMPLOYEES:

Simon Loong (CEO)

Paul Ip (CRO)

Karen Ho (CFO)

Frances Kang

Momentum

FUNDED

YES

TOTAL FUNDING

$396 M

DATE OF LAST FUNDING

Dec 2019

TOTAL FUNDING COMMENT

The company will use the funds to strengthen its operation. (July 2018)

FUNDING SERIES

SERIES A  · $20 M  · Jan 2015

SERIES B  · $220 M  · Nov 2017

SERIES C  · $156 M  · Dec 2019

DEBT FUNDING

$25 M

LISTED

NO

COMMENT

WeLab has files for a Hong Kong IPO in July 2018.

BASICS

FOUNDING YEAR:

2013

LOCATION:

Hong Kong

Views:

248 VISITORS | 468 VIEWS
LATEST FUNDING ROUND

$396 M

TOTAL EMPLOYEES
201-500

About

WeLab is an internet finance company that offers credit risk management tools by leveraging big data analytics and the latest internet technologies. It has developed a proprietary risk management technology that analyzes unstructured mobile data to create credit scores for applicants. It also works with traditional financial institutions and assists them to develop and offer FinTech-enabled solutions to their customers.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

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