A host of government investors have participated in a second funding round for the lending platform, which closed a $20m series A backed by Tom Group last year.
WeLab, a China-based peer-to-peer lending platform backed by media company Tom Group, raised $160m in a series B round led by Khazanah Nasional, the sovereign wealth fund of Malaysia, yesterday.
The round also included financial services firm ING Bank and Guangdong Technology Financial Group, an investment firm operated by China’s government.
Founded in 2013, WeLab aims to provide users in China and Hong Kong with a loan from other individuals if they have no credit record, offering an interest rate…
