WeLab Secures $220M to Fuel AI-Powered Push Across Asia

HONG KONG – January 14, 2026 – Pan-Asian fintech platform WeLab has announced the completion of a US$220 million Series D strategic financing round, a move that injects significant capital into its ambitious expansion and technology plans. The funding, a mix of debt and equity, stands as the largest digital banking capital raise in Asia for 2025 and the largest single round in WeLab’s history, signaling powerful investor confidence in its growth strategy.

The investment is earmarked to accelerate the company’s expansion across Southeast Asia, deepen its leadership in the competitive Hong Kong market, and supercharge the development of its AI-driven financial services, building on a strategic partnership with Google.

A Vote of Confidence from Global Financial Giants

The funding round drew a diverse consortium of backers, including new investors and significant follow-on support from existing partners. The roster features prominent names like Prudential Hong Kong Ltd, Fubon Bank (Hong Kong), HSBC, and the Hong Kong Investment Corporation (HKIC), alongside continued investment from TOM Group and Allianz X. The breadth of these investors highlights a multi-faceted strategic interest in WeLab's model.

The participation of the Hong Kong Investment Corporation, first announced in April 2025, aligns with its mandate to cultivate Hong Kong’s innovation and technology ecosystem. By backing WeLab, HKIC aims to bolster the city's standing as a premier fintech hub and accelerate the development of AI-powered financial services with regional reach. Similarly, insurers like Prudential are investing in technology to enhance their own services, with a focus on using AI to boost productivity and improve client outcomes.

For banking partners such as Fubon Bank and HSBC, the investment represents a strategic play on the future of financial services. Fubon has been pursuing its own aggressive digital transformation, while HSBC's venture arm has a history of targeting high-growth B2B fintechs in Asia. Their involvement underscores a belief in WeLab's capacity to innovate and capture market share in a rapidly evolving landscape. This broad support from established financial institutions validates WeLab's platform and its potential to reshape digital banking across the continent.

Fueling an AI-First Future with Google

A core component of WeLab's strategy is its 'AI-first' vision, heavily powered by a strategic partnership with Google announced in September 2025. The new capital will directly fuel this initiative, which aims to revolutionize digital banking and help the company reach its goal of serving 500 million users across the Asia-Pacific region by 2032. WeLab anticipates these AI integrations will drive a 42.4% efficiency gain over the next five years.

The collaboration goes beyond simple implementation. WeLab is integrating Google's advanced AI models, including Gemini on the Vertex AI platform, to optimize core operations from product design to marketing. A key development is the deployment of specialized AI agents. An internal AI Investment Research Agent is already being used to provide employees with instant investment insights, democratizing access to high-level financial analysis. The company plans to roll out similar customer-facing agents to offer personalized recommendations in foreign exchange, lending, and wealth management.

This AI focus is already visible in its marketing efforts. WeLend, the company's Hong Kong lending arm, recently launched a television commercial that was 100% generated by AI, using Google's Gemini and Veo models. The partnership also includes comprehensive training to upskill WeLab employees in AI, data, and security, ensuring the company has the internal talent to execute its ambitious vision.

The Blueprint for Southeast Asian Conquest

While solidifying its leadership in Hong Kong, where WeLab Bank is the largest digital bank by revenue, the fintech platform is setting its sights firmly on Southeast Asia. The US$220 million in funding provides the war chest needed for this regional push. The company already has a significant and successful blueprint in Indonesia with Bank Saqu.

Launched in November 2023 after WeLab's acquisition of Bank Jasa Jakarta, Bank Saqu has seen explosive growth, acquiring over one million customers in its first six months and surpassing two million within its first year. The digital bank targets individuals and 'solopreneurs' with innovative features like its 'pockets' system for financial management, tapping into Indonesia’s vast population of over 200 million underbanked and unbanked consumers. This Indonesian operation, built on Google Cloud, serves as a model for future market entries.

With this proven success, WeLab is actively exploring opportunities in other key Southeast Asian markets, including Malaysia, Vietnam, and the Philippines. Thailand has been specifically identified as a target for a third digital banking license. The company's expansion strategy is flexible, involving applications for new licenses, forging partnerships with local conglomerates, and deploying its technology through B2C, B2B, and B2B2X models. This multi-pronged approach allows it to adapt to the unique regulatory and economic conditions of each market.

Navigating a Competitive Digital Frontier

WeLab’s ambition is backed by a track record of success, but it enters a dynamic and increasingly crowded field. In Hong Kong, the monetary authority's move to rebrand virtual banks as 'licensed digital banks' signifies a maturing market. While WeLab Bank has garnered numerous accolades, including being named among the 'World's Top 20 Digital Banks' by Euromoney, it faces stiff competition from other well-capitalized digital players.

In Indonesia, the rapid growth of Bank Saqu is impressive, but it is not alone. Other digital financial platforms like Yup are also securing significant funding and targeting the same underserved populations. The competition to win over the region's digitally-savvy but often unbanked consumers is intensifying, requiring not just innovative technology but also deep local understanding and effective customer acquisition strategies.

This funding round provides WeLab with the resources to not only compete but to lead. As Simon Loong, Founder and Group CEO of WeLab, stated in the announcement, "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."