Lightning Reach acquired by ETG as mission-driven govtech group expands portfolio
Fintech-for-good platform Lightning Reach has been acquired by European Technology Group (ETG), a mission-aligned govtech group and long-term investor. Despite over 20 million people living in financi... The fintech-for-good platform, which has helped over 300,000 people access £25 million in support, will remain independent as it joins ETG to scale its partnerships and reach one million people by 2028.
Key Takeaways
- Acquisition Lightning Reach acquired by ETG as mission-driven govtech group expands portfolio The fintech-for-good platform, which has helped over 300,000 people access £25 million in support, will remain independent as it joins ETG to scale its partnerships and reach one million people by 2028.
Cate Lawrence 22 July Share Send email Copy link Fintech-for-good platform Lightning Reach has been acquired by European Technology Group (ETG), a mission-aligned govtech group and long-term investor.
- At the same time, local authorities, charities and other organisations face the challenge of rising demand, constrained budgets and complex administrative and reporting requirements.
Founded during the Covid-19 pandemic, Lightning Reach was created to bridge this gap, making it easier for people to access the financial support available to them through a single, simple platform.
- ETG acquires and scales software businesses serving the public sector and other regulated industries in Europe.
Built and backed by entrepreneurs for entrepreneurs, ETG provides a strategic platform for founders and their teams, offering resources to support growth in areas such as sales, international expansion, and product development.
- As part of ETG, Lightning Reach will benefit from long-term backing, public sector technology expertise and additional resources to accelerate its goal of helping over 1 million people access the financial support available to them by 2028.
This will enable the company to broaden its market access, enhance public sector procurement and further invest in product innovation to unlock faster, more efficient delivery of a wider range of support.
- The acquisition represents ETG's third investment and reflects its strategy of supporting technology businesses that improve the delivery of public services and social outcomes.
Stats & Key Facts
- #Despite over 20 million people living in financi...
- #The fintech-for-good platform, which has helped over 300,000 people access £25 million in support, will remain independent as it joins ETG to scale its partnerships and reach one million people by 2028.
- #Acquisition Lightning Reach acquired by ETG as mission-driven govtech group expands portfolio The fintech-for-good platform, which has helped over 300,000 people access £25 million in support, will remain independent as it joins ETG to scale its partnerships and reach one million people by 2028.
- #Cate Lawrence 22 July Share Send email Copy link Fintech-for-good platform Lightning Reach has been acquired by European Technology Group (ETG), a mission-aligned govtech group and long-term investor.
The fintech-for-good platform, which has helped over 300,000 people access £25 million in support, will remain independent as it joins ETG to scale its partnerships and reach one million people by 2028. Acquisition Lightning Reach acquired by ETG as mission-driven govtech group expands portfolio The fintech-for-good platform, which has helped over 300,000 people access £25 million in support, will remain independent as it joins ETG to scale its partnerships and reach one million people by 2028. Cate Lawrence 22 July Share Send email Copy link Fintech-for-good platform Lightning Reach has been acquired by European Technology Group (ETG), a mission-aligned govtech group and long-term investor.
Despite over 20 million people living in financially vulnerable circumstances, over £24 billion in financial support goes unclaimed each year. This is because support is spread across different organisations and remains highly fragmented, application processes are often manual, and awareness of available schemes is low. At the same time, local authorities, charities and other organisations face the challenge of rising demand, constrained budgets and complex administrative and reporting requirements.
Founded during the Covid-19 pandemic, Lightning Reach was created to bridge this gap, making it easier for people to access the financial support available to them through a single, simple platform. It provides the infrastructure for organisations to deliver support more effectively, reach more people and create greater impact. The company now partners with over 100 organisations across the UK, including some of the largest utility providers, local authorities, charities, housing associations and banks.
For more details please read the original article at Tech.eu.
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