Lightnet has raised $31.2mn in a funding round led by United Overseas Bank.
The round also included Seven Bank UniPresident Asset Holdings, Hashkey Capital, Hopeshine Ventures, Signum Capital, Du Capital and Hanwha Investment and Securities.
Lightnet uses blockchain technologies for remittances.
It offers three solutions: BirdgeNet, LiquidNet and SmartNet.
What does this mean?
Currently Lightnet’s main platform has been completed and it is on track to launch early this year. It aims to grow through integrating with payments providers such as MoneyGram.