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Announced

Completed

Allianz X led the $75m Series C-1 round in WeLab.

Financials

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Transaction Value£54m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Hong Kong

Cross Border

virtual banking

Minority

Friendly

Private

Completed

Single Bidder

Private Equity

FinTech

Acquisition

fintech

Synopsis

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Allianz X, a digital investment company, led the $75m Series C-1 round in WeLab, a fintech company in Asia "We see this as a first-in-market 4-way partnership where there are abundant synergies between WeLab, as a fintech leader and a pioneer in digital banking, and Allianz, as a global insurer and asset manager. More importantly, both companies share a vision on delivering advanced technology solutions to customers in Asia," Simon Loong, WeLab Founder & Group CEO.

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