Allianz: invests in HK fintech Welab
(CercleFinance.com) - The German insurer Allianz announced on Monday that it has invested 75 million dollars in the Hong Kong fintech WeLab, a platform that brings together lenders and borrowers.
Since its creation in 2013, WeLab - which is now present in Hong Kong, China and Indonesia - says it has enabled 50 million individuals and 600 companies to access credit.
Allianz says that the investment enables it to strengthen its position in Asia, a market that it considers as highly "strategic" because of its potential in wealth management, especially in Hong Kong, which has the second highest per capita bank deposit rate in the world.
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Since its creation in 2013, WeLab - which is now present in Hong Kong, China and Indonesia - says it has enabled 50 million individuals and 600 companies to access credit.
Allianz says that the investment enables it to strengthen its position in Asia, a market that it considers as highly "strategic" because of its potential in wealth management, especially in Hong Kong, which has the second highest per capita bank deposit rate in the world.
Copyright (c) 2021 CercleFinance.com. All rights reserved.