WeLab announced it has closed a $220 million Series D strategic financing, describing the round as the largest digital banking capital raise in Asia in 2025 and the biggest funding round in the company’s history. The financing includes both debt and equity and brings in a mix of new investors alongside continued backing from existing investors and strategic capital partners.
The company said the raise includes investment from Prudential Hong Kong Ltd, Fubon Bank (Hong Kong), HSBC, and Hong Kong Investment Corporation, which WeLab noted it previously announced in April 2025. WeLab also cited follow-on participation from TOM Group and Allianz X.
WeLab said it will use the proceeds to expand in Southeast Asia while strengthening its position in Hong Kong through a broader product ecosystem and faster customer acquisition. The company also said the financing will support new business lines built on advanced technologies, ongoing product and platform upgrades, and potential strategic M&A activity as it pursues its goal of becoming a leading regional digital bank in Asia.
A portion of the funding is earmarked to advance WeLab’s AI initiatives and its recently announced AI-first strategic partnership with Google, the company said. WeLab plans to develop AI agents, expand hyper-personalization, and modernize marketing capabilities to improve customer engagement and operational efficiency.
WeLab operates across Hong Kong, Mainland China, and Indonesia, and runs two digital banks: WeLab Bank in Hong Kong and Bank Saqu in Indonesia. The company said it serves more than 70 million individual users and over 700 enterprise customers, and it provides consumer financing, digital banking services, and technology solutions powered by proprietary risk management technology, privacy computing techniques, and AI capabilities. WeLab also said WeLab Bank is the largest digital bank in Hong Kong by revenue and cited multiple 2025 recognitions and awards from industry publications.
KEY QUOTE:
“With operations across three markets and two digital banks in Hong Kong and Indonesia, WeLab has built both scale and depth of operational experience. This foundation, proven by our rapid customer growth and market leadership, gives us the strength to capture new opportunities, accelerate expansion, and innovate at pace. In today’s dynamic landscape, we stand at the best time, with the best scale, to lead the next chapter of digital banking in Asia.”
Simon Loong, Founder and Group CEO, WeLab
