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weLab bank targets southeast asia expansion after breakeven success in hong kong

WeLab Bank, based in Hong Kong, is set to expand into the Philippines, Malaysia, and Vietnam after achieving monthly breakeven in December 2024. The bank aims for profitability in Indonesia and Thailand within three to five years, targeting the larger Southeast Asian market despite its lower affluence.Meanwhile, Bank Jago, Indonesia's first fully digital bank, reported a 78% increase in net profits to US$7.8 million and a customer base of 15.3 million by the end of 2024. The bank is leveraging partnerships and AI to enhance customer experience and grow its loan portfolio, despite facing stock price challenges.
Tech in Asia
United States Dollar Indonesian Rupiah PT Bank Jago Tbk Google Inc. THA VNM HKG MYS IDN Simon Loong Show more
Business & Industry, News Article
08:00 26.03.2025

weLab Bank expands into southeast asia while australian startup secures funding

WeLab Bank, after taking time to establish itself in Hong Kong, is now expanding into Southeast Asia with the launch of Bank Saqu in Indonesia and plans for Thailand. The bank, which partners with major firms like Apple and Tesla, aims to replicate its success in the region.In other news, Australian startup BetterFleet raised US$23.7 million in a series A round to enhance its digital tools for electric vehicle transitions. Meanwhile, Zeno Health in India has introduced a rapid medicine delivery service following its US$25 million funding, and Xpeng plans to mass-produce humanoid robots and flying cars by 2026.
Tech in Asia
United States Dollar Apple Inc. Tesmec S.p.A. XPeng Inc. Tesla, Inc. THA IDN HKG AUS ARE IND Elon Musk Simon Loong Show more
Business & Industry, News Article
10:30 21.03.2025
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