WeLab, a fintech company based in Hong Kong that operates across Asia has raised $220 million in its Series D funding round. This is the largest digital banking fundraise in Asia in 2025.
The funding includes both debt and equity and came from investors such as Prudential Hong Kong, Fubon Bank (Hong Kong), Hong Kong Investment Corporation, TOM Group, Allianz X, and HSBC.
This large investment shows growing investor interest in Hong Kong’s fintech sector as digital finance continues to expand across the region.
WeLab plans to use the funds to grow its virtual banking businesses in Hong Kong and Indonesia. The company will also improve its AI-based credit scoring systems and expand its cross-border lending products.
CEO Simon Lo said the money will help drive new product development and support WeLab’s expansion across Southeast Asia.
WeLab will also use part of the funding to support its new AI strategy and its AI partnership with Google.
The company said the investment will help develop AI tools such as smart assistants, personalised services, and data-based marketing features to improve customer experience and make operations more efficient.
WeLab currently runs digital banking businesses in Hong Kong and Indonesia.
Simon Loong, Founder and Group CEO of WeLab, said: “Our aim is to help customers manage, save, and grow their wealth more effectively. We will continue to integrate AI into our products and work with strategic partners to develop digital banking services that are more relevant to customer needs.”
In Hong Kong, WeLab Bank is the biggest digital bank when it comes to revenue. In 2025, it also won several awards from well-known organizations like Euromoney and FinanceAsia.
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