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.
It was initially backed by nearly 30 investors including the Joseph Rowntree Foundation, Big Issue Invest and Techstars, and was recently named Fintech for Good of the Year at the Fintech Awards London. Since launch, more than 300,000 people have unlocked over £25 million in financial support through Lightning Reach.
