WeLab secures $220m Series D in Asia’s largest digital bank raise

January 16, 2026

WeLab, a pan-Asian FinTech platform operating digital banks and online financial services, has completed a $220m Series D strategic financing.

The Series D round, which combines both debt and equity, represents the largest funding raise since the company’s inception. The financing attracted a broad mix of new investors alongside continued backing from existing shareholders and strategic capital partners.

Participants in the round included Prudential Hong Kong Ltd, Fubon Bank (Hong Kong), Hong Kong Investment Corporation (HKIC), which was announced earlier in April 2025, TOM Group through a follow-on investment, Allianz X via a follow-on commitment, and HSBC.

Proceeds from the raise will be used to accelerate WeLab’s expansion across Southeast Asia, while further strengthening its market leadership in Hong Kong.

The company plans to develop a richer and more diversified product ecosystem, accelerate customer acquisition, and invest in new business lines supported by advanced technologies. The capital will also support ongoing product and platform upgrades, as well as potential strategic M&A opportunities, as WeLab works towards its ambition of becoming Asia’s leading regional digital bank.

A portion of the funding will be directed towards WeLab’s recently announced AI vision and its AI-first strategic partnership with Google. These initiatives are focused on redefining digital banking innovation across Asia through the development of advanced AI agents, hyper-personalisation capabilities and modernised marketing approaches.

Simon Loong, founder and group CEO of WeLab said, “With operations across three markets and two digital banks in Hong Kong and Indonesia, WeLab has built both scale and depth of operational experience. This foundation, proven by our rapid customer growth and market leadership, gives us the strength to capture new opportunities, accelerate expansion, and innovate at pace. In today’s dynamic landscape, we stand at the best time, with the best scale, to lead the next chapter of digital banking in Asia.”