Singapore Fintech Partners MoneyGram
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The integration and implementation of Lightnet’s technology with MoneyGram’s money transfer services will provide customers with a wide selection of payout services across Southeast Asia.
The Singapore-headquartered fintech company will provide its Bridgenet solution to enable money transfer operators to connect with MoneyGram’s money transfer service, broadening the range of payout services, the company said in an announcement.
The success of this collaboration reflects Lightnet’s commitment towards improving the efficiency, convenience, affordability and accessibility of cross-border remittances. Lightnet is working tirelessly to make these kinds of services available to everyone, Tridbodi Arunanondchai, group CEO and vice chairman of Lightnet, said.
Lightnet was co-founded in 2018 by Chatchaval Jiaravanon – a family member of the Charoen Pokphand group in Thailand – and Arunanondchai, a tech entrepreneur and former investment banker.
The startup raised $31.2 million in 2020, in a Series A funding round led by UOB Venture Management. It also partnered Swiss crypto bank Seba to offer remittance services for migrant workers in Asia, and partnered Velo Labs and Visa to serve the micro, small and medium enterprise (MSME) lending market.
Questions & Answers
Q.What is the primary benefit of Lightnet's technology integrating with MoneyGram's services?
What is the primary benefit of Lightnet's technology integrating with MoneyGram's services?
The integration will provide customers in Southeast Asia with a wider selection of payout services. Lightnet's Bridgenet solution will enable money transfer operators to connect with MoneyGram's service, broadening accessibility.
Q.Who founded Lightnet and when was the company established?
Who founded Lightnet and when was the company established?
Lightnet was co-founded in 2018 by Chatchaval Jiaravanon, a family member of the Charoen Pokphand group, and Tridbodi Arunanondchai, a tech entrepreneur and former investment banker.
Q.What other significant partnerships has Lightnet established?
What other significant partnerships has Lightnet established?
Lightnet previously partnered with Swiss crypto bank Seba for remittance services for migrant workers in Asia. It also collaborated with Velo Labs and Visa to serve the micro, small and medium enterprise lending market.
Q.How much funding did Lightnet raise in its Series A round?
How much funding did Lightnet raise in its Series A round?
Lightnet raised $31.2 million in its Series A funding round in 2020. This investment was led by UOB Venture Management, supporting the fintech company's growth and development.
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