WeLab Ranks #23 Globally and #7 in China on KPMG’s 2018 Fintech100
The Only Hong Kong Fintech Company on the List for Three Consecutive Years
(24 October 2018, Hong Kong) WeLab, a homegrown fintech company has been named #23 globally and #7 in China to the “2018 Fintech100”, a collaboration between KPMG Fintech and fintech investment firm H2 Ventures.
WeLab is a leading fintech company in Asia with over 32 million registered users. With its best-in-class big data analysis and AI technology, WeLab has been named #23 globally to the “2018 Fintech100” this year (from #36 in 2017) and #7 in China (from #8 in 2017). WeLab is also the only Hong Kong fintech company that has been named to the list for three consecutive years.
"We are thrilled to be on the exclusive Fintech100 list as a leading established innovator for the 3rd year in a row,” said Simon Loong, Founder and CEO of WeLab. "The higher ranking this year is a testament to our fintech capabilities which are continually improved and enhanced through our innovative business model. We will continue to serve our customers better with game-changing technology, keeping them ahead of the curve.”
Chinese fintech companies lead Fintech innovation on the global scene holding Top 4 of the Top 10 spots on the list including Ant Financial, JD Finance and Baidu Financial, and continue to scale with a heavy emphasis on payments on insurance.
Now into the fifth edition of the annual report that published by KPMG Fintech and fintech investment firm H2 Ventures, the 2018 Fintech100 list recognizes the top fintech companies from around the world in terms of their ability of firms to innovate that generate a long-term sustainable competitive advantage. The 2018 Fintech100 selected the companies based on data across a range of dimensions including the capital raised, geographic and sectoral diversity, degree of product, service and business model innovation.
Founded in 2013 in Hong Kong, WeLab is reinventing traditional financial services by creating seamless mobile lending experiences. With its proprietary risk management technology, WeLab effectively analyses unstructured mobile big data within seconds to make credit decisions for individual borrowers. WeLab operates WeLend in Hong Kong, Wolaidai (我来贷) in Mainland China and a fintech joint venture AWDA in Indonesia. The company also partners with traditional financial institutions which utilise WeLab’s technology to offer FinTech-enabled solutions to their customers.
WeLab was named in a KPMG-sponsored report as one of the top 100 FinTech companies in the world – #7 in China and #23 globally – and was ranked by Deloitte as the #1 fastest growing tech company by revenue in Hong Kong and #4 in China. WeLab’s investors include Malaysian sovereign wealth fund Khazanah Nasional Berhad, CK Hutchison’s TOM Group, International Finance Corporation (a member of the World Bank Group), Alibaba Entrepreneurs Fund, China Construction Bank (International), Sequoia Capital and ING Bank.
For more information, please visit www.welab.co