Financial

Alibaba-backed online lending marketplace WeLab is seeking to raise up to $500m in an initial public offering on the Hong Kong Stock Exchange.

The smartphone maker aims to invest in 100 India-based startups over the next five years as it seeks to build its mobile app ecosystem.

AIB has invested approximately $35m in TransferMate as part of a strategic partnership, taking a stake of at least 10% in the process.

If it is shown that a different funding structure to just venture capital is helpful in AI then implications could cascade to other industries.

Five companies backed by internet company Tencent raised large amounts in their initial public offerings (IPOs) over the past few months. It appears to be a bout of IPO exits that may not ended yet.

The SIG-backed peer-to-peer lending marketplace has announced it has raised hundreds of millions of dollars in its latest round.

Citigroup has led a $20m series A1 round for Behavox, a developer of people analytics software for the financial services industry.

The debt collection platform has completed a series B round featuring insurer Assurant that will fund product development and client acquisition.

The National University of Singapore spinout has secured an undisclosed amount to bring its blockchain platform through public testing scheduled for December 2017.