WeLab tests waters for fintech with $50m trade

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By John Loh
15 Sep 2016

Hong Kong-based WeLab is set to dip its toes in the Asian syndicated loans market for a $50m borrowing, potentially fuelling a trend of fintech start-up lenders hitting the wholesale market for funds.

The firm said last week that it had obtained a $25m facility from ING Bank. The latter will also lead the $50m loan that WeLab plans to syndicate in the fourth quarter, which will be secured by account receivables.

WeLab operates the Wolaidai mobile lending platform in China ...

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