Lightning Reach Acquired by European Technology Group to Expand Financial Support Platform

More than 20 million people in the UK are facing financial difficulties. However, over £24 billion in financial support goes unclaimed every year.

Many people miss out on this support because it is provided by different organisations. The system is often confusing, applications are completed manually, and many people do not know what help is available.

Local authorities, charities, and other organisations are also under pressure. They are dealing with increasing demand for support, limited budgets, and complicated administrative and reporting processes.

According to Ren Hooi, Founder of Lightning Reach: “I’ve always wanted to make sure our impact as a company can outlast my role as the founder, and it’s clear we’ve reached this point. Rhiannon has been an exceptional leader since she joined our early team nearly five years ago and is the ideal person to lead our next phase, with ETG providing the dream long-term home that will allow us to stay laser-focused on our mission.”

Rhiannon Sheridan, CEO of Lightning Reach, added: “When I joined Lightning Reach, we were a tiny team with a big goal, to make it easier for people to access support while removing the manual work that slows organisations down. With ETG’s long-term backing, sector expertise and clear alignment with our mission, we have the right partner to help us scale sustainably, deepen our partnerships and keep investing in the platform as we work towards helping one million people access financial support by 2028.”

Lars Becker, CEO and Co-Founder of ETG, added: “Lightning Reach is tackling one of the most important challenges out there: making sure people in financial hardship can actually access the help they are entitled to. The team has built something genuinely special, with a brilliant product and real proof of impact. We see a significant opportunity to grow its reach across the UK and beyond, and we could not be more excited to support Rhiannon and the team as they scale.”

Lightning Reach was founded during the COVID-19 pandemic to make it easier for people to find and apply for financial support. The company created a simple platform that brings different support schemes together in one place.

The platform also helps organisations provide financial support more efficiently and reach more people. Today, Lightning Reach works with more than 100 organisations across the UK, including major utility companies, local authorities, charities, housing associations, and banks.

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