DST Global, Sequoia Participate In $20M Series A In Welab

Hong Kong and Shenzhen-based Chinese Internet finance firm WeLab has completed US$20 million series A financing from DST Global’s founder Yuri Milner, San Francisco-based investment advisor Iconiq Capital, Hong Kong-listed Chinese media conglomerate TOM Group and Sequoia Capital, according to a company announcement.

The proceeds will be used to expand the company’s market reach and improve its risk control systems.

Founded in 2013, WeLab focuses on providing student loans in Hong Kong and mainland China.

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