HSBC Backs WeLab’s US$220 Million Series D Round to Fuel Pan-Asia Fintech Expansion

In a major endorsement of Asia’s digital banking and fintech growth story, HSBC has joined a US $220 million Series D funding round for WeLab, the Hong Kong-based pan-Asian fintech platform that operates digital banks and online financial services across the region.

The investment round — comprising a mix of debt and equity financing — represents the largest capital raise for digital banking in Asia for 2025, and marks the most significant funding round in WeLab’s history. HSBC’s participation underlines growing confidence among global financial institutions in the future of digital banking infrastructure and technology-led financial services across Southeast Asia and Greater China.

A Landmark Funding Round for Asia’s Digital Banking Sector

WeLab’s Series D strategic financing, announced in January 2026, secured US $220 million from a diverse syndicate of investors that included both new backers and existing strategic partners. Alongside HSBC, notable participants in the round included:

• Prudential Hong Kong Ltd
• Fubon Bank (Hong Kong)
• Hong Kong Investment Corporation (HKIC)
• TOM Group
• Allianz X
  These firms reinforced their support by investing in the fintech’s continued growth trajectory and regional ambitions.

The fundraising is significant not only for its size but also for its strategic composition — blending financial institutions, strategic corporate investors and venture partners with deep roots in Asian markets.

WeLab’s Pan-Asian Footprint and Growth Vision

Founded in Hong Kong, WeLab is a leading pan-Asian fintech platform with a presence in multiple markets, including Hong Kong, Mainland China and Indonesia. The group operates two licensed digital banks — including WeLab Bank in Hong Kong — as well as other online financial services and lending platforms, serving tens of millions of users across retail and corporate segments.

The latest financing is intended to support a multi-pronged growth strategy with a focus on:

• Expanding in Southeast Asia, where digital banking adoption and under-banked population segments present high growth potential.
• Deepening market leadership in Hong Kong, where WeLab Bank has established itself as a leading digital-only bank.
• Diversifying product ecosystems and accelerating customer acquisition through enhanced financial services and technology innovations.
• Strengthening AI-driven capabilities, leveraging advanced artificial intelligence to deliver hyper-personalised user experiences and operational efficiencies.

According to recent reports, the funding will also underpin WeLab’s broader AI-first vision, including its strategic partnership with Google to build advanced AI agents and hyper-personalisation engines for next-generation digital banking offerings.

Why HSBC’s Participation Matters

HSBC’s participation in WeLab’s Series D round is a strategic signal on multiple fronts:

• Global Bank Endorsement: One of the world’s largest banking groups backing a regional fintech underscores confidence in digital banking as a foundational pillar of future financial services in Asia.
• Strategic Alignment: HSBC’s involvement complements its broader innovation banking initiatives and regional fintech engagement strategies — including deepening support for technology-led financial ecosystems in markets like Hong Kong and Singapore.
• Ecosystem Support: By backing WeLab, HSBC supports a fintech that is building scalable platforms and services capable of reshaping how customers engage with banking, credit, savings and wealth products across borders.

The move reflects a broader trend in which established financial institutions are increasingly investing in or collaborating with fintech players to accelerate digital transformation, enhance customer reach, and co-innovate in areas such as open banking, digital credit, lending platforms and AI-enabled financial services.

Investor Confidence and Market Momentum

Beyond HSBC, the collective investor base in the Series D round suggests robust confidence in WeLab’s growth plan and its potential to capture significant market share in Asia’s burgeoning digital banking landscape. The presence of diversified institutional investors also helps validate WeLab’s approach to technology-enabled finance, risk management infrastructure and regional scaling strategies.

WeLab’s funding round also sets a benchmark for digital banking capital raises in Asia, elevating the company’s profile as a regional fintech leader and attracting further industry attention to Southeast Asia’s vibrant fintech ecosystem, where digital wallets, embedded finance, and online banking solutions are seeing rapid adoption.

What the Funding Will Enable

According to company insights, the proceeds from the Series D financing are earmarked for several strategic priorities:

1. Regional Expansion in Southeast Asia

WeLab plans to leverage fresh capital to scale operations and customer reach in key Southeast Asian markets, tapping into rising demand for digital financial services among both retail and SME segments.

2. Product and Platform Diversification

Part of the funding will go towards new product development, including richer financial services, enhanced UX design, and integrated offerings that extend beyond traditional banking services.

3. Technology Innovation and AI Integration

WeLab’s AI-centric roadmap aims to deliver capabilities such as hyper-personalised experiences, automated customer support agents, smart financial advisory tools, and targeted risk models powered by generative AI frameworks.

4. M&A and Strategic Partnerships

Capital reserves will also support strategic mergers and acquisitions, enabling WeLab to strengthen its market position and explore synergistic ventures with regional fintechs or technology partners.

Together, these initiatives signal a move from pure digital banking services to a broader financial ecosystem play that intersects with payments, lending, wealthtech and fintech infrastructure.

Industry Implications

WeLab’s successful funding round — supported by heavyweight financial institutions like HSBC — reflects growing capital flows into fintech and digital banking in Asia, driven by:

• Acceleration of digital financial adoption among consumers and businesses.
• Expansion of mobile-first and AI-powered banking solutions that meet users’ demand for convenience, speed and personalised services.
• Institutional investor interest in scalable fintech platforms showing strong growth and product diversification potential.

This momentum also underscores the resilience and opportunity inherent in Asia’s fintech landscape — where regulatory frameworks, increasing internet penetration, and expanding digital economies are enabling innovative business models to thrive.

Conclusion

HSBC’s participation in WeLab’s US $220 million Series D funding round is a strong endorsement of Asia’s digital banking future and the strategic direction of the pan-Asian fintech. By fueling WeLab’s regional expansion, product innovation, and AI-led capabilities, the investment accelerates the firm’s ambition to be a leading digital bank across Southeast Asia and Greater China.

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