WeLab Raises US$220M in Series D Financing

WeLab has closed a US$220 million Series D strategic financing round, comprising a mix of debt and equity.

The raise is the largest digital banking capital raise in Asia so far in 2025 and the biggest funding round in the company’s history.

The round attracted new investors alongside continued support from existing shareholders and strategic capital partners, including Prudential Hong Kong Ltd, Fubon Bank (Hong Kong), Hong Kong Investment Corporation (HKIC), TOM Group, Allianz X, and HSBC.

The funding will support WeLab’s expansion in Southeast Asia and further development of its Hong Kong business, including broader product offerings and customer growth.

WeLab will use the funding to develop new business lines, enhance its technology platform, and pursue selective mergers and acquisitions.

The company will also allocate part of the capital to its recently announced AI strategy and its AI-focused partnership with Google.

The company said the investment will support the development of AI agents, personalisation capabilities, and data-driven marketing tools aimed at improving customer experience and operational efficiency.

WeLab operates digital banking businesses in Hong Kong and Indonesia.

In Hong Kong, WeLab Bank is currently the largest digital bank by revenue and has received several industry awards in 2025, including recognition from Euromoney and FinanceAsia.

Simon Loong, Founder and Group CEO of WeLab, said:

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