PROJECT

Projects

Summary of Investment Information

Project Number

37911

Company Name

WELAB HOLDINGS LIMITED

Date SPI Disclosed

Feb 29, 2016

Country

China

Region

East Asia and the Pacific

Projected Board Date

Apr 1, 2016

Environmental Category

FI-3 - No Impact

Status

Active

Last Updated Date

Oct 7, 2017

Department

Global Industry, Financial Markets

Industry

Financial Markets

Previous Events

Approved : Aug 4, 2017
Signed : Sep 29, 2017
Invested : Oct 5, 2017

Sector

Virtual lending, P2P, crowdfunding

Project Description

Welab is a tech-based retail lending credit cycle management service provider, operating in Hong Kong SAR and mainland China. It uses predictive data analytics and machine learning algorithm to credit score consumers who do not have an existing credit score. Welab targets to support the underserved population to obtain modest finance. Welab is raising Series B preferred equity to expand its business.

Associated Advisory Engagement

There is no Advisory Services Engagement associated with the IFC investment.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation