Deals
Sequoia-Backed WeLab Seeks Funds at $2 Billion Value, Sources Say
- Hong Kong fintech unicorn could raise as much as $250 million
- Founded in 2013, WeLab operates in Hong Kong, China, Indonesia
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WeLab Ltd., backed by investors including Sequoia Capital and billionaire Li Ka-shing, is weighing a new funding round that could value the Hong Kong-based fintech firm at about $2 billion, according to people familiar with the matter.
The company is looking to raise $200 million to $250 million in the new round to accelerate its growth plans, said the people, who asked not to be identified as the information is private. WeLab has sounded out existing and new investors for the fundraising, the people added.