Founder and CEO of WeLab
Simon Loong is the Founder and CEO of WeLab, Asia’s leading internet finance company. WeLab
operates Wolaidai (我来贷), one of China’s largest mobile lending platforms, and WeLend.hk, Hong
Kong’s leading online lending platform. An entrepreneur at heart, Simon founded WeLab after working in
the banking industry for over 17 years. WeLab has sourced more than US$1.9 billion in loan applications
since launching in 2013.
In January 2016, WeLab announced a US$160 million (RMB1 billion) Series B fundraising from a stellar
consortium of international and domestic Chinese investors, including Khazanah Nasional Berhad, ING
Bank and state-owned Guangdong Technology Financial Group (GTFG). This financing represented the
first-ever fundraising by a Chinese financial technology firm from both an international bank and
government investors, and also one of the first financings of an international financial institution in a
leading Chinese fintech player.
This Series B fundraising followed the completion of a US$20 million Series A round in January 2015
from a group of strategic and financial investors, including CK Hutchison’s TOM Group, Sequoia Capital,
Yuri Milner (Founder of DST Global), ICONIQ Capital, and Ule.com, a joint venture between China Post
Group, China’s state-owned postal service and the TOM Group, which enabled WeLab to launch new
products in mainland China and solidify its credit risk modelling capabilities with big data solutions.
Prior to founding WeLab, Simon was the North East Asia Regional Head of Unsecured Lending at
Standard Chartered Bank, where he was responsible for managing the bank’s credit card and consumer
lending business in Hong Kong, Taiwan and China. In this capacity, Simon was also appointed to the
Management Committee of its Consumer Banking business. Before joining Standard Chartered Bank,
Simon held various senior positions at Citibank in the Asia-Pacific region, with his most recent position
being Senior Vice President and Credit Card Marketing Director for Citibank Taiwan, where under his
leadership, the division became the most profitable credit card issuer in Taiwan.
Simon has a Masters of Science in Management (MSM) from the Stanford Graduate School of Business
and is a Certified Public Accountant (CPA). He was awarded Silicon Dragon’s Entrepreneur Achievement
Award in 2014.