Thailand CP family-backed fintech startup Lightnet partners with IDEA communication on regional communications
Thailand’s homegrown local fintech startup Lightnet has appointed IDEA Communication as PR partner as part of its “Pivot to Asia” strategy.
Lightnet was co-founded by Chatchaval Jiaravanon – a family member of the Charoen Pokphand Group in Thailand – and serial tech entrepreneur and former investment banker Tridbodi Arunanondchai in November 2018. It has announced its A-round funding in January 2020, and the launch of its low-cost, secure fintech tool that facilitates cash-to-cash, account-to-account across any forms of currency using Lightnet as the underlying infrastructure.
The financing round was led by UOB Venture Management, Seven Bank, Uni-President Asset Holdings, HashKey Capital, Hopeshine Ventures, Signum Capital, Du Capital and Hanwha Investment and Securities. The proceeds from the latest fundraising will go towards strengthening Lightnet’s investment in the underlying blockchain technology on the Stellar Network, and to build a next-generation financial mobility network.
With the continued growth of the middle class across much of the Southeast Asia region, demand for seamless and efficient remittance service across the region’s diversified geographic area has grown tremendously, and will continue to grow. In a bid to support the company’s market roll out in Asia, IDEA will take charge of communications strategy and planning, providing support in the realms of public relations, strategic partnership, media relations and training, public affairs and more.
Over the next 12 months, IDEA will be responsible for establishing and building relationships with Tier 1 media titles in Singapore, Greater China and Southeast Asia; producing regular press releases in order to secure media coverage and brand exposure; securing interviews with media houses; building brand awareness through print, digital, and other channels; and more.
“I am confident that Lightnet will scale the business in the region to new heights by tapping IDEA’s strong PR prowess and solid understanding of the fintech business,” said Tridbodi Arunanondchai, Vice Chairman of Lightnet, serial entrepreneur and investor operating within the digital consumer, media, artificial intelligence and blockchain sectors.
Prior to Lightnet, Tridbodi co-founded MoneyTable Public Company Limited, a leading Fintech Company focusing on big-data lending that helps enterprises own and manage their digital banking capabilities within their respective communities as well as Privepass.com (an online travel club), ATIZ Innovation (a sensor and imaging provider), and Play Media (a digital agency). As an investor, Beam has actively invested in technology start-ups spanning multiple sectors, including energy, food and beverage, internet, and tourism. He is also a Venture Partner at Indonesia-based Kejora Ventures, one of Southeast Asia’s most active VC firms. Beam graduated with a Bachelor of Engineering from Chulalongkorn University and an MBA and Master of Management Science and Engineering from Stanford University.