Hong Kong Fintech Unicorn WeLab Raises $240M to Buy Indonesian Bank

A virtual bank is soon coming to Indonesia. WeLab, a Hong Kong-based fintech unicorn, announced Tuesday its acquisition of Bank Jasa Jakarta (BJJ), an Indonesian commercial bank.

With the deal, WeLab is planning to launch a digital bank to capture the country’s enormous unbanked population in the second half of next year.

About this News Item