WeLab, the leading pan-Asian financial technology company behind some of Asia’s first fully digital banks, recently completed a USD$220 million Series D strategic financing round – the largest digital banking capital raise recorded in Asia last year.
A GAME CHANGING INVESTMENT
Operating two digital banks – WeLab Bank in Hong Kong and Bank Saqu in Indonesia – alongside multiple online financial services across Asia, WeLab uses state-of-the-art technology to help its customers achieve their financial goals.
With more than 70 million individual users and counting, as well as 700 enterprise customers, the company has emerged as one of the region’s leading financial technology (FinTech) platforms since its inception in 2013.
A recent USD$220 million Series D financing round – which comprised both debt and equity – included support from a wide array of new investors, alongside continued support from existing ones.
These included Prudential Hong Kong Ltd, Fubon Bank, Hong Kong Investment Corporation (HKIC), TOM Group, Allianz X, and HSBC.
Asia’s largest digital banking capital raise in 2025, this major investment demonstrates widespread confidence in WeLab’s vision to redefine the region’s financial services through game-changing technology and a scalable growth trajectory.
REIMAGINING DIGITAL BANKING INNOVATION
As it looks to further expand its operations in Southeast Asia, the strategic financing is intended to fuel Welab’s growth in the region, alongside bolstering activities at its headquarters in Hong Kong through accelerated customer acquisition and an increasingly diverse product ecosystem.
It will also fuel the creation of new WeLab business lines leveraging advanced technologies, power ongoing product and platform enhancements, and create opportunities for strategic mergers and acquisitions.
In line with the organisation’s goal of establishing itself as Asia’s regional digital bank, these initiatives are helping to rewrite the future of financial services for the better.
Following the recent announcement of WeLab’s artificial intelligence (AI)-first strategic partnership with Google in September 2025, the raise will also support this collaboration, fundamentally reimagining digital banking innovation across Asia.
Modernised marketing approaches, hyper-personalisation, and the development of advanced AI agents will also be driven by the investment, resulting in more efficient business outcomes and engaging customer experiences.
ANTICIPATING THE NEXT CHAPTER
Poised to set new standards for digital banking across Asia, WeLab’s integration of cutting-edge AI solutions sets it apart.
Currently the largest digital bank by revenue in Hong Kong and recognised as one of the World’s Top 20 Digital Banks by competitive intelligence provider, Euromoney, WeLab earned a range of prestigious industry accolades in 2025.
These include Best Digital Bank for Consumers – Hong Kong at the Euromoney Awards for Excellence, and Best Digital Bank – Hong Kong and Best Bank for Financial Inclusion – Hong Kong” at the FinanceAsia Awards.
Reflecting on WeLab’s operations across three markets and its two digital banks in Hong Kong and Indonesia, Simon Loong, Founder and Group CEO, observes how the organisation has built both scale and depth of operational experience in a relatively short lifespan.
More from APAC Outlook
Bolstered by rapid customer growth and market leadership, he notes that this foundation has granted WeLab the strength to capture new opportunities, accelerate expansion, and innovate at pace.
As such, amidst a dynamic industry landscape, the organisation is well-positioned to lead the next chapter of digital banking in Asia.
