WeLab Secures $220 Million Series D, Asia’s Largest Digital Banking Raise of 2025

WeLab, a leading pan-Asian fintech platform, announced the successful closing of its Series D strategic financing, securing US$220 million in funding. This marks the largest digital banking capital raise in Asia for 2025 and the largest funding round since WeLab’s inception, demonstrating strong investor confidence in WeLab’s vision and scalable growth trajectory.

The financing round, comprising both debt and equity, secured investment from a diverse array of new investors, alongside strong support from existing investors and strategic capital partners, including Prudential Hong Kong Ltd, Fubon Bank (Hong Kong), Hong Kong Investment Corporation (HKIC) (announced earlier in April 2025), TOM Group (follow-on investment), Allianz X (follow-on investment), and HSBC.

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The investment will fuel WeLab’s expansion in Southeast Asia, while deepening its leadership in Hong Kong through a richer, more diversified product ecosystem and accelerated customer acquisition. It will also power the creation of innovative business lines leveraging advanced technologies, drive continuous product and platform enhancements, and support strategic M&A opportunities. These initiatives reinforce WeLab’s ambition to establish Asia’s leading regional digital bank, reimagining the future of financial services.

This raise will also support the initiatives towards WeLab’s recently announced AI vision and its AI-first strategic partnership with Google, aimed at reimagining digital banking innovation across Asia. The investment will drive the development of advanced AI agents, hyper-personalization capabilities, and modernized marketing approaches, delivering more engaging customer experiences and efficient business outcomes.

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Building on WeLab’s market leadership in Hong Kong, where WeLab Bank is the largest digital bank by revenue and recognized as one of the World’s Top 20 Digital Banks by Euromoney, WeLab Bank has earned multiple industry accolades throughout 2025, including “Best Digital Bank for Consumers – Hong Kong” by the Euromoney Awards for Excellence 2025 and “Best Digital Bank – Hong Kong” and “Best Bank for Financial Inclusion – Hong Kong” by the FinanceAsia Awards 2025. AI delivery will be a key driver of scale, product breadth, and ongoing innovation. By integrating cutting-edge AI solutions, WeLab is poised to set new standards for digital banking, both in Hong Kong, Indonesia’s Bank Saqu and throughout the region.

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.”

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