Introduction to Lightnet Revenue and Competitors

Lightnet is a Singapore headquartered fintech company dedicated to improving the lives of the unbanked and underbanked by building an inclusive international remittance ecosystem that increases the efficiency of existing money transfer operators, financial institutions and other cross-border payment providers. Lightnet's initial focus will be on Southeast Asia remittances, which it estimates to be in excess of USD 150 billion a year. Following a USD 31.2 million Series A financing round in late January 2020, the company is now backed by eight Asian conglomerates, giving Lightnet access to a giant network of banks and retail outlets. Investors include UOB Venture Management, Seven Bank, Uni-President Asset Holdings, HashKey Capital, Hopeshine Ventures, Signum Capital and Du Capital. Lightnet is co-founded by industry figurehead Chatchaval Jiaravanon, whose family controls Thai conglomerate Charoen Pokphand Group.