Hong Kong Fintech Company WeLab Raises $156 Million

Date : 12/12/2019 @ 8:26AM
Source : Dow Jones News
Stock : China Construction Bank Corp. (PC) (CICHY)
Quote : 16.42  -0.04 (-0.24%) @ 4:13PM

Hong Kong Fintech Company WeLab Raises $156 Million

China Construction Bank Corp. (PC) (USOTC:CICHY)
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   By Yifan Wang 
 

Financial-technology group WeLab has raised $156 million in its latest financing round, the company said Thursday.

Investors in the latest round include Alibaba Hong Kong Entrepreneurs Fund and CCB International, the Hong Kong-based company said.

The funds will be used to broaden WeLab's platform and product offerings, it said.

The company, which counts Sequoia Capital and Malaysian sovereign wealth fund Khazanah Nasional Berhad as investors, operates in Hong Kong, China and Indonesia.

 

Write to Yifan Wang at yifan.wang@wsj.com

 

(END) Dow Jones Newswires

December 12, 2019 03:11 ET (08:11 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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