Financial news
Written by: Jingjing He
2019-12-13 18:40
Last updated: 2019-12-13 18:41Hong Kong-based fintech company WeLab (Hui Li Finance) completed more than HK $ 1.2 billion in Series C strategic financing, becoming the largest fintech financing project in Greater China this year. The distribution of the use of financing only indicates that it will be used to develop new projects. It also points out that the company is eager to go public and will consider the listing plan when the market conditions are more stable.
Long Peizhi said that its virtual bank Welab Bank is expected to start trials early next year and then gradually launch it to the public. The progress is in line with expectations and has not been affected by recent social events. He said that if the test goes well, I believe it will not take long.
Welab also set three main goals for next year's development, including launching a virtual banking service, increasing the number of partners from more than 300 to more than 1,000, and developing another large, younger population base within 2 years. Southeast Asia markets (e.g. Thailand, Vietnam, and the Philippines).
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