WeLab
Founded Year
2013Stage
Loan | AliveTotal Raised
$1.156BLast Raised
$260M | 1 yr agoRevenue
$0000Mosaic Score The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
-65 points in the past 30 days
About WeLab
WeLab specializes in providing online financial services and operates a digital bank. The company offers consumer financing solutions and digital banking services utilizing proprietary risk management technology, privacy computing techniques, and AI capabilities. It primarily serves retail individuals with mobile-based financial products and provides technology solutions to enterprise customers. It was founded in 2013 and is based in Quarry Bay, Hong Kong.
Loading...
WeLab's Product Videos
WeLab's Products & Differentiators
GoWealth of WeLab Bank
WeLab Bank recently launched GoWealth becoming Asia’s 1st purely-digital bank to launch a digital wealth advisory solution. GoWealth is a collaboration between WeLab Bank and Allianz Global Investors, one of the world’s leading asset management firms, to deliver goal-based investment experience. WeLab Bank trail-blazes digital wealth management services through GoWealth, backed by its fintech experience and AllianzGI’s investment management expertise. Most of the existing wealth management services focus on high-net-worth customer segments; some relationship managers cease following up and stop tracking investment performance after customers buy investment products. Understanding these pain points, WeLab Bank is determined to digitalize and democratize wealth advisory through GoWealth.
Loading...
Expert Collections containing WeLab
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
WeLab is included in 5 Expert Collections, including Unicorns- Billion Dollar Startups.
Unicorns- Billion Dollar Startups
1,249 items
Fintech 100
997 items
250 of the most promising private companies applying a mix of software and technology to transform the financial services industry.
Digital Lending
2,271 items
This collection contains companies that provide alternative means for obtaining a loan for personal or business use and companies that provide software to lenders for the application, underwriting, funding or loan collection process.
Fintech
13,413 items
Excludes US-based companies
Digital Banking
763 items
WeLab Patents
WeLab has filed 2 patents.
Application Date | Grant Date | Title | Related Topics | Status |
|---|---|---|---|---|
1/17/2018 | 6/7/2022 | Cryptography, Block ciphers, Key management, Cryptographic attacks, Cryptographic hash functions | Grant |
Application Date | 1/17/2018 |
|---|---|
Grant Date | 6/7/2022 |
Title | |
Related Topics | Cryptography, Block ciphers, Key management, Cryptographic attacks, Cryptographic hash functions |
Status | Grant |
Latest WeLab News
Sep 23, 2024
By Gloria Mathias Share Lighthub Asset, a Thai FinTech, and WeLab , a pan-Asian FinTech platform, have announced that they have applied for a Virtual Banking licence with the Bank of Thailand (BOT). It is expected that the application result will be announced within the first half of 2025. The consortium aims to empower Thailand’s financial future by revolutionising banking services and delivering an AI-powered, intelligent experience. Their combined expertise and ready-to-launch services are set to bring fresh solutions to the Thai banking sector. The collaboration is dedicated to improving financial inclusion in Thailand by providing localised digital banking services to everyone, especially the underserved. The services will include features tailored to solopreneurs and MSMEs facing unstable incomes and limited financial access. M.R. Chatu Mongol Sonakul, Advisor of the Consortium and Former Governor of the Bank of Thailand said, “I welcome BOT’s initiative to invite new market entrants to foster greater innovation and competition in the financial sector. I am confident that the consortium’s new virtual bank will bring fresh ideas and innovative solutions to advance financial inclusion for underserved communities and instill diversity in Thailand’s financial landscape.” Hirankrit (Tridbodi) Arunanondchai, Director of Lighthub Asset and Co-founder and group CEO of Lightnet Group, said, “We appreciate BOT’s direction in association with Virtual Banking, marking an important milestone for the Thai Financial Industry. Our consortium aims to introduce a “Smart & Open Virtual Bank” in Thailand, leveraging international expertise in AI, data analytics, digital platforms, and innovative credit scoring to tailor financial products for unserved and underserved retail and MSME segments, fostering financial inclusion and sustainable economic growth.” Simon Loong, Founder and Group CEO of WeLab, said, “We look forward to the opportunity to build our third virtual bank in Asia and make this Thailand’s leading virtual bank. Committed to open competition and interoperability, we’re truly ecosystem agnostic, with a strong track record of working with leading global brands like Apple, Tesla, Allianz, and CK Hutchison. We are passionate about seamlessly integrating tech and banking into daily life and contributing to the Thai economy.” Previous Article
WeLab Frequently Asked Questions (FAQ)
When was WeLab founded?
WeLab was founded in 2013.
Where is WeLab's headquarters?
WeLab's headquarters is located at K11 Atelier King's Road, 728 King's Road, Quarry Bay.
What is WeLab's latest funding round?
WeLab's latest funding round is Loan.
How much did WeLab raise?
WeLab raised a total of $1.156B.
Who are the investors of WeLab?
Investors of WeLab include Citigroup, TOM Group, Allianz X, Alibaba Entrepreneurs Fund, CCB International and 12 more.
Who are WeLab's competitors?
Competitors of WeLab include CircleUp, JUMO, TrueAccord, Lendio, Lufax Holding and 7 more.
What products does WeLab offer?
WeLab's products include GoWealth of WeLab Bank and 4 more.
Loading...
Compare WeLab to Competitors
LendKey is a financial services company specializing in loan origination and refinancing within the education and home improvement sectors. The company offers a range of products including private student loans, student loan refinancing, and home improvement loans, all designed to provide consumers with lower interest rates and a simplified loan application process. LendKey primarily serves the financial sector by partnering with banks and credit unions to offer these loan services. It was founded in 2009 and is based in Cincinnati, Ohio.
TrueAccord is a debt collection agency that focuses on late-stage collections and recovery services. The company uses a platform that incorporates machine learning to assist in the debt recovery process through consumer engagement. TrueAccord serves sectors such as financial institutions and enterprise companies by offering debt collection services. TrueAccord was formerly known as One True Holding Co. It was founded in 2013 and is based in Lenexa, Kansas.
Cgtz is a business-to-customer (B2C) debt investment portal, providing various investments products for the individual and small and medium enterprises (SMEs).
Progressa is a consumer finance company that operates in the financial services industry. The company primarily offers debt consolidation services, helping individuals improve their financial health by paying off outstanding debt and collection items, which often results in improved credit scores. Progressa primarily serves individuals living paycheck to paycheck. It was founded in 2013 and is based in Vancouver, British Columbia.
JD Digits is a digital technology company that provides a range of financial services and products to consumers, startups, SMEs and other businesses in China. Its business lines include supply chain finance, consumer finance, crowdfunding, asset management, payment solutions, insurance, and securities. In particular, the company offers a "one-stop" online investment and financing platform. The company is the financial technology arm of JD.com. It is involved in many fields, including finance, urban computing, agriculture, campus services and digital marketing.
JUMO is a financial technology company offering a platform that facilitates access to financial services such as borrowing and saving, using customers' digital footprints to create financial identities. JUMO primarily serves micro and small to medium enterprises in emerging markets, offering them instant access to finance to support growth and investment. It was founded in 2015 and is based in Cape Town, South Africa.
Loading...