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Hong Kong fintech unicorn WeLab raises $75M led by insurance giant Allianz – TechCrunch


Hong Kong fintech unicorn WeLab raises $75M led by insurance giant Allianz
One of the few industries that have benefited from the COVID-19 crisis is online finance. 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. That’s in part why Allianz X, a venture capital arm of the 131-year-old European financial conglomerate Allianz, led WeLab’s latest funding round of $75 million. The Series C1, which involved other investors, followed WeLab’s $156 million Series C round in late 2019. ....

Hong Kong , South Korea , Simon Loong , Hong Kong Welab , Ant Group , Alibaba Hong Kong Entrepreneurs Fund , Alibaba Hong Kong Entrepreneurs , Hong Kong Founded , Greater Bay Area , Wealth Management Connect , ஹாங் காங் , தெற்கு கொரியா , சிமோன் லூங் , எறும்பு குழு , அலிபாபா ஹாங் காங் தொழில் முனைவோர் நிதி , அலிபாபா ஹாங் காங் தொழில் முனைவோர் , ஹாங் காங் நிறுவப்பட்டது , அதிகமானது வளைகுடா பரப்பளவு , செல்வம் மேலாண்மை இணைக்கவும் ,

GBB Completes USD$3.8M Convertible Note Financing Led by Alibaba Hong Kong Entrepreneurs Fund


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HONG KONG, Feb. 23, 2021 /PRNewswire/ Great Bay Bio Holdings Limited (hereinafter referred to as GBB ) today announced it has completed a USD$3.8M Convertible Note Financing. Alibaba Hong Kong Entrepreneurs Fund (hereinafter referred to as AEF ) led the investment round with participation from existing investors including Futec Financial Group (an affiliate of HeungKong Group), Fengde Capital, and other new investors. The investment will mainly be used to support the commercialization of two GBB self-developed platforms, namely Klone4.0™, an AI-enabled cell line development platform, and AlfaMedX
®, an AI-enabled cell culture media development platform. The company also plans to use the new funding to develop new AI platforms, as well as bolster its senior management team. ....

Hong Kong , Cindy Chow , Alibaba Hong Kong Entrepreneurs Fund , Executive Director , Alibaba Hong Kong Entrepreneurs , Great Bay Bio , ஹாங் காங் , சிண்டி சோவ் , அலிபாபா ஹாங் காங் தொழில் முனைவோர் நிதி , நிர்வாகி இயக்குனர் , அலிபாபா ஹாங் காங் தொழில் முனைவோர் , நன்று வளைகுடா உயிர் ,