Tencent's WeBank looking to raise $1 billion in funding round - source

WeBank, the online finance arm of Chinese tech firm Tencent Holdings Ltd , is looking to raise about $1 billion to expand its lending business and other financial services, a person with knowledge of the matter said on Wednesday. WeBank, launched in January, plans to hold discussions primarily with private equity investors over the next couple of months, said the person, who declined to be identified as the matter has not been announced. WeBank did not reply to a Reuters request for comment on t