WeLab acquires Bank Jasa Jakarta in Indonesia
WeLab, a leading pan-Asian fintech platform, today announced the acquisition of PT Bank Jasa Jakarta (BJJ), a commercial bank in Indonesia, with plans to launch its second digital bank in Asia further to the successful launch of WeLab Bank in Hong Kong.
WeLab, headquartered in Hong Kong, has drawn wide-spread interest from existing and new investors who have already contributed US$240 million for this transaction, representing the largest fintech funding in Indonesia in 2021. The funds will be used to acquire the controlling stakes from its existing shareholders and tech investments.
