WeLab welcomes Alibaba in $220m round

Nov 8, 2017 • Robert Lavine

China-based online lending marketplace WeLab raised $220m in debt and equity financing today in a series B+ round that included e-commerce firm Alibaba’s Hong Kong Entrepreneurs Fund.

Financial services firms Credit Suisse and China Construction Bank (CCB) also participated in the round, along with International Finance Corporation, the private investment arm of the World Bank. WeLab has now raised approximately $425m since it was founded in 2013.

WeLab runs an app-based peer-to-peer lending platform with more than 25 million registered…

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