Welend

lendingother lending

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)

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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