According to reports, the fintech platform WeLab has announced the successful completion of its strategic Series D financing round, raising a substantial US$220 million. This marks the largest single financing round the company has secured since its inception.

This financing endeavor, which combines both debt and equity funding, has attracted robust support from a diverse array of new investors and strategic capital partners. Notable contributors include Prudential Hong Kong, Fubon Bank (Hong Kong), HSBC, and the Hong Kong Investment Management Corporation, among others. Moreover, the TOM Group and Allianz Group have also opted to participate in follow-on investments.

WeLab has stated that the funds raised in this financing round will be strategically allocated to fuel its business expansion across Southeast Asia. Additionally, the company aims to diversify its financial product offerings, accelerate customer acquisition, and bolster its previously announced artificial intelligence (AI) initiatives.