Lightnet secures $50 mn funding in blockchain push

Lightnet Group has secured $50 million capital from LDA Capital to grow its infrastructure, operations, and expand its technology partner’s (Velo Labs Technology) blockchain technology.
VC funding for techSingapore headquartered Lightnet will have the option to increase the $50 million to total commitment of up to $100 million over the next three years.

Lightnet will use the funds to facilitate web 3.0 payment and blockchain ledger-based remittance services focused across Asia Pacific and globally.

Lightnet aims to boost growth in the payment and remittance space, expanding operating corridors and opportunities, obtaining licenses – enabling a transition of existing payment and remittance systems towards new technology and building the #1 CeDefi banking network in Asia.

“This investment will allow us to grow and expand our infrastructure, which partners can participate in and grow business solutions,” said Tridbodi Arunanondchai, Co-Founder and CEO of Lightnet.