Alibaba, IFC back WeLab amid 'frenzied demand'

Hong Kong fintech start-up, which already boasts Li Ka-shing as a backer, upsizes latest funding round as it bags $220m. But its founder is coy on whether it has hit unicorn status.

Ray Chan

November 09, 2017

"Explosive growth" in lending volumes has helped WeLab Holdings, a Hong Kong-based fintech startup which already boasts Li Ka-shing’s Tom Group among its backers, raise $220 million from investors including Alibaba’s Hong Kong Entrepreneurs Fund.

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