Thai Tycoon Who Owns Fortune Magazine Plans Fintech Acquisitions
- Chatchaval Jiaravanon seeking to expand his startup Lightnet
- Company offers blockchain remittance platform for underbanked
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A financial technology startup co-founded by the owner of Fortune magazine plans to widen the reach of its Southeast Asian remittance platform through acquisitions.
Lightnet, which describes its blockchain-based service as quicker and cheaper compared with traditional banks, may raise fresh capital to pour into purchases, said Chairman Chatchaval Jiaravanon. The company announced a $31 million funding round last week.