Investment Summary

Allianz X Invests In WeLab

On March 8, 2021, corporate investor Allianz X invested in financial services company WeLab

Investment Highlights
  • This is Allianz X’s 6th transaction in the Financial Services sector.
  • This is Allianz X’s 1st transaction in China.

Investment Summary

Date 2021-03-08
Target WeLab
Sector Financial Services
Investor(s) Allianz X
Deal Type Venture

Target

WeLab

Hong Kong, China
WeLab is a provider of online lending and digital banking solutions in China and Southeast Asia. WeLab services include digital banking services and loans for private customers, a digital lending platform to connect lenders and borrowers, as well as a number of technology-driven services to support financial institutions in their lending processes. WeLab was founded in 2013 and is based in Hong Kong, China.

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Investor(S) 1

Investor

Allianz X

Investor Investor Investor


Category Corporate Investor
Founded 2013
PE ASSETS 2.0B EUR
Size Large
Type Sector Focused
DESCRIPTION

Allianz X is the growth-oriented investment arm of Germany insurance and financial services company Allianz Group. Allianz X looks to invest in and acquire expansion stage financial and insurance technology companies throughout the world. The Firm has special interest in businesses that can benefit from Allianz's expertise and global reach. Allianz X was formed in 2013 and is based in Munich.


DEAL STATS #
Overall 24 of 29
Sector: Financial Services M&A 6 of 7
Type: Venture M&A Deals 16 of 17
Country: China M&A 1 of 1
Year: 2021 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-10 Purpose Unlimited

Toronto, Ontario, Canada

Purpose Unlimited is a financial services company focused on customer-centric innovation through technology-driven solutions. Its platform equips entrepreneurs and small- to medium-sized businesses with tools to advance modern asset management, wealth management, and banking technology. Purpose Unlimited was founded in 2013 and is based in Toronto, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-25 Pie Insurance Services

Draper, Utah, United States

Pie Insurance Services is an insurtech company specializing in workers' comp insurance for small businesses. Pie Insurance Services is based in Draper, Utah.

Buy -