WeLab completed a strategic Series D financing of $220 million.

It is reported that fintech platform WeLab announced the completion of a US$220 million Series D strategic financing, which is the largest single-round financing since WeLab was founded. This round of financing for WeLab includes debt and equity funds, and has received participation and support from multiple new investors and strategic capital partners, including Prudential Hong Kong, Fubon Bank (Hong Kong), HSBC, a Hong Kong investment management company. TOM Group and Allianz Group have also increased their investments. WeLab stated that the funds from this round of financing will be used to expand its business in Southeast Asia. Meanwhile, by offering a more diverse range of financial products and accelerating customer growth, it will support the previously announced artificial intelligence (AI) vision, etc. (Jiemian)