WeLab completes $220 million Series D funding, led by HSBC

Hong Kong fintech group WeLab announced the completion of a $220 million (approximately over HKD 1.7 billion) Series D strategic financing, led by HSBC, with participation from Prudential Hong Kong, Fubon Bank (Hong Kong), Hong Kong Investment Management Corporation (HKIC), TOM Group, and Allianz Group. WeLab is one of the eight digital banks in Hong Kong and a founding member of the Hong Kong Web3.0 Association. In 2023, it received $260 million in asset financing from Citibank.