Laurence Escalante family office invests in WeMoney’s $12M Round

Lance East Office, the family office of Perth-based entrepreneur Laurence Escalante, has led a $12 million funding round in financial wellness platform WeMoney. The round, as reported by the Australian Financial Review, values WeMoney at $100 million.

The WeMoney funding round also included participation from Mastercard, BetterLabs, Dorado Capital, and Eastcourt Capital. WeMoney offers a digital platform that helps users manage finances by tracking credit scores, bills, debts, savings, and income. The company currently serves approximately 80,000 monthly users.

WeMoney plans to use the new capital to develop artificial intelligence-powered comparison tools and expand into international markets. Founder Dan Jovevski told The AFR that the company is exploring expansion into Southeast Asia, New Zealand, and other regions developing open banking systems.

Jovevski also indicated that WeMoney is preparing for a potential future listing on the Australian Securities Exchange (ASX). “After this fundraise, we’re basically running the business like it would be if it was a listed business,” he said, referencing changes in board structure, executive management, and investor relations practices.

About the Laurence Escalante family office: Lance East Office

Lance East Office was established in 2021 to manage and grow Escalante’s private assets, investments, and philanthropic initiatives. Escalante is the founder and CEO of Virtual Gaming Worlds (VGW), a company known for operating online social games including Chumba Casino and Global Poker. VGW employs more than 1,000 people globally and is one of Australia’s most profitable tech companies. Beyond his work with VGW, Escalante has been an angel investor and entrepreneur, with investments spanning technology, gaming, motorsports, and financial services.

Source: MPA Mag (23.04.2025)
Picture Source: Fachrizal Maulana, Unsplash+ (15.02.2025)