WeLab Closes $14M in Series A Funding

WeLab, a Hong Kong-based peer-to-peer lending platform, closed $14m in Series A funding.

Backers included TOM Group and Sequoia Capital.

The company intends to use the funds to build services including a new product for Mainland China later in 2014 that will use big data for credit risk modeling.

Founded in 2013 by Simon Loong, CEO, WeLab operates WeLend.hk, a peer-to-peer lending platform. The company is establishing strategic partnerships with a variety of mobile, e-commerce, and financial companies that will enable analytical insights into consumer behavior in the China market.
WeLab has offices in China and India.



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