WeLab: Gets Hong Kong virtual banking license

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WeLab: Gets Hong Kong virtual banking license

WeLab: Mobile lender, becomes the first homegrown player to grant Hong Kong virtual banking license

  • WeLab Founded in 2013, operates in the B2B and B2C markets in Hong Kong
  • The company scored a $220 million equity and debt financing round in 2017
  • They launched its virtual bank within 9 months in securing a license from HKMA
  • With its new license, they enter the Hong Kong retail banking market using AI, machine learning and big data
  • It fully dedicates its resources to provide seamless digital financial services built for the customer