Incomlend Group Acquires Web 3 Fintech, LC Lite

February 22, 2024

Incomlend Group, a global invoice finance marketplace for SMEs, recently revealed its strategic acquisition of LC Lite, a specialised trade finance marketplace, integrating Web3 technology into its platform. This strategic initiative is focused on leading the way in creating a new asset category that merges the reliability of receivables financing with the growth opportunities found in digital asset values.

Thanks to the acquisition, LC Lite will enable the company to utilise a new fintech platform, broadening its audience to both crypto and fiat investors in trade finance and speeding up its expansion in the Middle East. It also guarantees that investors have simultaneous access to both the LC Lite and Incomlend platforms, each with its own separate fintech solutions.

Expanding Incomlend’s platform services will now allow transactions to be conducted in any currency to finance an exporter. Discussing the recent collaboration, Morgan Terigi, co-founder and CEO at Incomlend, expressed excitement over the acquisition of the fintech LC Lite.

‘’This allows us to connect the crypto and fiat spaces, which will be essential as both markets grow and new technologies emerge. This merger will also enhance the marketplace’s liquidity, ultimately contributing to the growth of the UAE economy.’’

Jean-Charles Devin, Co-founder and Director at LC Lite, also mentioned that by partnering with Incomlend, LC Lite can enhance its business model and increase the value of its digital assets on the platform, leveraging its successful two-year track record.

“Furthermore, with the LC Lite technology, Incomlend will be able to venture into the web3 digital world” Devin concluded.

The merger with LC Lite allows Incomlend to expand their fintech services to a broader audience of investors, helping them provide their services to a larger group of investors and further their goal of enhancing financial inclusion in Singapore.