Thailand-basedfintech firm Lightnet has raised $31.2 million (?23.9m) in a series A fundinground led by UOB Venture Management, Seven Bank, Uni-President Asset Holdings,HashKey Capital, Hopeshine Ventures, Signum Capital, Du Capital and HanwhaInvestment and Securities.
Theraised funds will be used to fortify the company’s investment in the underlyingblockchain technology on the Stellar Network, and to build a next-generationfinancial mobility network.
LightnetCEO Suvicha Sudchai said: “Lightnet is offering three innovative solutions,BridgeNet, LiquidNet and SmartNet. The main platform has been completed, andthe first transaction is slated for Q1 2020. In addition to the potential500,000 cash agents across our ecosystem, Lightnet will integrate with severalrenowned payment and remittance partners such as MoneyGram, Seven Bank, Yeahka,Ksher across Japan, South Korea, and several other South East Asia nations toensure successful activation of our ecosystem.”
TridbodiArunanondchai, Lightnet’s vice-chairman, said: “It’s vital that we build anecosystem to provide Lightnet access to our partners’ vast user base andfacilitate deeper penetration into local markets. We project that within threeyears, Lightnet will facilitate over $50 billion worth of annual transactionsthrough our industry- leading partner network.”
Earlier this month, Washington D.C-based blockchain services firm Securrency secured $17.65m in series A funding round led by New York-based WisdomTree Investments as a strategic investor. By investing and collaborating with Securrency, WisdomTree is planning to integrate its blockchain technology into the exchange-traded fund (ETF) ecosystem to bring the benefits of ETFs to a wider range of investors and improve the investor experience. Last December, New York-based blockchain as a service (BaaS) solution provider Horizon raised $5m in its series A fundraiser to further enhance the operations of its proprietary technology.
