WeLab launches Bank Saqu as its second digital bank in Asia
The newly launched digital bank aims to target the younger generations, with a focus on solopreneurs in Indonesia.
The newly launched digital bank aims to target the younger generations, with a focus on solopreneurs in Indonesia.
According to Bloomberg, the fintech firm is valued at around $2 billion.
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WeLab has raised $240m to fund the acquisition – “the largest fintech funding in Indonesia in 2021”.
The challenger is offering users a numberless debit card.
Backers included Alibaba’s Hong Kong Entrepreneurs Fund and China Construction Bank.
European banks are investing in wealthtech, lendtech, paytech, regtech and blockchain.