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Yuri Milner invested 6 million dollars in the Hong Kong private lending service WeLab
Yuri Milner, one of the richest businessmen in Russia, founder of the DST Global investment fund group, invested 6 million dollars in personal investment in WeLab's private lending service in Hong Kong.
Investment company DST Yuri Milnera traditionally invests in large foreign companies, in particular, such as Facebook, Twitter, Zynga, Alibaba, Groupon, JD.com.
This time, the investment went to Hong Kong, in a startup called WeLab, which is engaged in issuing loans and accepting deposits under the P2P lending scheme without the participation of banks. The main project of this startup involves the provision of loans from 20 thousand to 300 thousand dollars for a period of one to four years with an interest rate from 0,5% to 12%. Another WeLab project is Wolaidai, a mobile P2P platform that credits students from 50 to 500 dollars.
As previously reported in EastRussia, the DST Global investment funds group in December 2014 was supplemented with another - DST China EC XI. An investment fund has been registered in the Cayman Islands.