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    Headlines ·     Underlying net profit attributable to shareholders down 32% to US$1,085 million and underlying earnings per share down 30% to US$2.95 ·     Southeast Asian businesses and Mandarin Oriental severely impacted by the pandemic, but resilience in Hongkong Land, Dairy Farm, Jardine Pacific and Jardine Motors ·     Continued investment for the long-term exemplified by US$4.5 billion investment by Hongkong Land in West Bund in Shanghai ·     Dividend maintained at US $1.72 per share for t...

Asian Fintech firm WeLab has reportedly finalized a $75 million Series C-1 investment round led by Allianz X.

Allianz's technology investment arm is committing $75 million to WeLab, a Hong Kong-based fintech focused on virtual banking, consumer financing and other

Around the world, the pandemic has forced consumers to adopt digital banking. Hong Kong's WeLab, a fintech company founded in 2013, saw users soar by 20% year over year in 2020, bringing its accumulative user base to 50 million. Facing innovative players like WeLab, which aims to bring more convenience, transparency and affordability to consumers, financial incumbents feel compelled to reinvent themselves.

Opinions expressed by Entrepreneur contributors are their own. Hong-Kong-based fintech company WeLab on Monday announced it has raised $75 million in a Series C-1 funding round led by digital investment unit Allianz X of the Germany-based Allianz Group. Since its inception in 2013, the company has raised more than $600 million of strategic financing from some of the renowned investors. The new funding, together with Allianz partnership, will bolster the acceleration of WeLab's pan-Asian growth strategy and expansion of digital financial services. "We are thrilled to welcome Allianz as an i...