Singapore – IncomLend, a global invoice finance marketplace for SMEs, has recently announced its strategic acquisition of LC Lite, a specialised trade finance marketplace, bringing together Web3 technology to its platform.
This strategic move aims to pioneer a new asset class combining the dependable nature of receivables financing with the growth potential inherent in digital asset values.
Through the acquisition, LC Lite will allow the company to leverage a new fintech platform, expanding its reach to both crypto and fiat investors in trade finance and facilitating the acceleration of its growth in the Middle East.
It also ensures that investors can access both the LC Lite and Incomlend platforms at the same time, each maintaining its own independent fintech solutions.
As it intends to broaden Incomlend’s platform services, the acquisition also enables transactions to be conducted in any currency to finance an exporter.
In addition, this will empower them to expand their fintech platform, facilitating future transactions involving stablecoins.
Speaking about the recent collaboration, Morgan Terigi, co-founder and CEO at Incomlend, said, “We are delighted to announce the acquisition of the fintech LC Lite. It empowers us to link the crypto and fiat spaces, which is going to be crucial as both markets continue to expand and new technologies become available. The merger will also increase the liquidity of the marketplace, which will help boost the UAE economy.”
Jean-Charles Devin, co-founder and director at LC Lite, also said, “By joining Incomlend, LC Lite will be able to take its business model to the next level while also seeing its digital assets on the platform value further, building on an already successful two-year track record. “
“In addition to this, the LC Lite technology will enable Incomlend to enter the web3 digital world and conduct transactions with stablecoins where needed in the future,” Devin concluded.
The said merger with LC Lite enables Incomlend to expose their fintech services to a wider range of investors, allowing them to offer their fintech services to a larger pool of investors and advance their mission of promoting financial inclusion across Singapore.
