ING provided Honk Kong-based fintech company WeLab with a $25 million credit facility.

The agreement follows WeLab’s Series B financing of $160 million from a group of investors in January 2016, which was led by Khazanah Nasional Berhad and included ING Bank and state-owned Guangdong Technology Financial Group.

Two-year old WeLab operates Wolaidai, one of China’s largest mobile lending platforms, and Hong Kong online P2P site WeLend. Since its launch in 2013, WeLab has acquired over eight million registered users and processed $4.9 billion in loan applications.

“Our ability to close a credit facility with a major international bank is a testament to the strength of WeLab’s track record,” said Simon Loong, founder and CEO. “We believe this credit facility is one of the first completed by a major bank to fund the portfolio growth of a fintech company in Asia and are confident that this facility will open more doors to institutional funding in the near future.”