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WeLab, an Asian FinTech, has closed a Series C funding round and will come away with $75 million, according to a pr
stanley ca ess release.The round was led by Allianz X, the digital investment arm of German-based Allianz Group, one of the worlds biggest insurers and asset managers, the release stated.WeLab and Allianz have also formed a strategic investment to help drive collaboration. The new funding, according to the release, will work to bolster the acceleration of the WeLab growth strategy and expansion of digital
stanley mug financial services in Asia.With the investment and new partnerships, WeLab is looking at combining its digital banking technology with Allianzs expertise in insurance and asset management to help boost peoples financial well-being, the release stated.The partnership will include the debut of digital wealth management in Asia with AllianzGI, which will provide the hel
stanley termos p for billions of underbanked in the region who need financial management. WeLab Bank, once implemented, will be the first digital bank to uphold those kinds of technologies in Asia. The services will be rolled out first in Hong Kong, and then later to the Guangdong-Hong Kong-Macau Greater Bay Area GBA , according to the release.In addition, the partnership will help WeLab reach into other markets where Allianz operates, including in Southeast Asia, the release stated.WeLab Founder and CEO Simon Loong said in the release that the company is looking forward to expanding WeLabs geographical presence and bringin Vjey TSYS Bridges Security Into Virtual B2B Payments
Indias second largest local eComm
kubki stanley erce company, Snapdeal, has faced growing pressure from other native and international competitors, all of whom vie for a piece of the nations fast growing online market.Recently, Snapdeal CFO Anup Vikal told Reuters that the company is now seeking to raise some $100 million in additional funds from new and existing investors. The hope is to boost Snapdeals cash reserves and maintain its course to become profitable in two years.In February, Snapdea
stanley usa l restructured by laying off between 500 to 600 employees and making cuts to its online payments division FreeCharge as well as its logistics operation Vulcan Express.Snapdeals eCommerce competitors in India significantly outpace it when it comes to overall investments. Flipkart has recently raised $1.5 billion, and Amazon has invested $5 billion in expanding into the India market. Snapdeal has raised only $1.6 billion to date, with its two latest funding rounds, both back in 2016, totaling just over $200 million.But despite earlier rumors, the company says it is not for sale.Reports in
stanley fr the month of March suggested that the company was in sale discussions with domestic rivals Paytm E-Commerce and Flipkart. Snapdeal categorically denied that sale discussions took place. The information is incorrect and without basis, wrote a company spokeswoman. We are making decisive progress in our journey toward profitability, and all our efforts are aligned in this direction. Speculation surrounding a possible a
