Welend
FOUNDING YEAR: 2012
LOCATION: Hong Kong
Last Update: 18/10/2019
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MEDICI Analysis
WeLend is a business line of WeLab. The company provides an online consumer loans platform. The company offers personal loans, no document loans and credit debt reconsolidation loans. The platform utilizes artificial intelligence technology and big data analysis for credit assessment.
Focus
PRODUCTS & SERVICES
Mobile-based lending platform.
COMMENT
The company is planning to developed a business model among the Chinese population with a vision to provide affordable credit for 30% of China by 2018. (Dec. 2017)
People
FOUNDERS
Simon Loong
Kelly Wong
Aananth Solaiyappan
Frances Kang
INVESTORS:
Guangdong Technology Financial Group
International Finance Corporation
Momentum
FUNDED
YES
NUMBER OF FUNDING ROUNDS
3
TOTAL FUNDING
$400 M
DATE OF LAST FUNDING
Nov 2017
TOTAL FUNDING COMMENT
The company will use the funds to extend its services beyond the Greater China region. (Nov. 2017)
FUNDING SERIES
SERIES A · $20 M · Jan 2015
SERIES B · $380 M · Nov 2017
DEBT FUNDING
$25 M
LISTED
NO
COMMENT
The company has secured a credit facility of $25 million from ING Bank in Sep. 2016
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