CapEQ advises Lightning Reach on acquisition by European Technology Group
Financial inclusion platform secures long-term govtech backing to help a million more people claim the support they are owed; CapEQ acted as financial adviser to the shareholders.
LONDON, UK – 21 July 2026 — Lightning Reach, the UK platform helping people access financial support through a single digital journey, has been acquired by European Technology Group (ETG), a long-term govtech investor. CapEQ advised Lightning Reach on the transaction. Financial terms were not disclosed.
Lightning Reach has reached more than 300,000 people and facilitated over £25m in financial assistance since launching in December 2021.
Annual recurring revenue quadrupled over the past year, and the company has remained cash positive throughout. It now partners with over 100 organisations across the UK, including major utility providers, local authorities, charities, housing associations and banks, and is backed by nearly 30 investors including the Joseph Rowntree Foundation, Big Issue Invest and Techstars.
Advisor commentary
Douglas Edmunds, Partner, CapEQ, said: "Lightning Reach has built something rare — a business doing genuine good that also grows sustainably. Our role was to run a rigorous process around ETG's approach, negotiate terms that protected the mission as well as the value, and make sure Ren and the shareholders had everything they needed to make the right call. ETG's long-term, buy-and-hold approach to govtech gives Rhiannon and the team the right home to keep scaling their impact."
CapEQ, Europe's first Certified B Corporation M&A advisory firm, advised Lightning Reach on the transaction. Burness Paull, led by Paul Scullion, advised Lightning Reach's shareholders on legal matters.
Paul Scullion, head of corporate at Burness Paull, added: "We were delighted to support Ren and the team on this transaction, and to work with CapEQ on the process. There is a genuine need for innovative businesses to utilise technology to help society and Lightning Reach is a fantastic example of a 'fintech for good'. This acquisition will allow Rhiannon and the team to build on what they have already achieved and continue to grow their reach, and I wish them every success."
Strategic rationale
More than 20 million people in the UK live in financially vulnerable circumstances, and an estimated £24bn in financial support goes unclaimed each year — a gap driven by fragmentation across organisations, manual application processes and low awareness of the schemes available.
Lightning Reach was founded during the Covid-19 pandemic to close that gap, giving organisations the infrastructure to deliver support faster and reach more people.
ETG's backing gives Lightning Reach long-term capital, public sector technology expertise and support to broaden procurement access, with the stated goal of helping over one million people access financial support by 2028.
The acquisition is ETG's third investment and reflects its strategy of backing technology businesses that improve the delivery of public services and social outcomes.
Transaction structure
Lightning Reach will continue operating independently, with no changes anticipated to its platform or services for partners and clients.
As part of the transition, chief operating officer Rhiannon Sheridan has become chief executive, having joined the business nearly five years ago. Founder and former chief executive Ren Hooi remains involved as a director on the board.
Principal commentary
Ren Hooi, founder of Lightning Reach, said: "I've always wanted our impact to outlast my role as founder, and it's clear we've reached that point. Rhiannon has been an exceptional leader since she joined our early team, and ETG is the long-term home that lets us stay focused on our mission."
Rhiannon Sheridan, chief executive of Lightning Reach, added: "With ETG's long-term backing, sector expertise and clear alignment with our mission, we have the right partner to scale sustainably, deepen our partnerships and keep investing in the platform as we work towards helping one million people by 2028."
Lars Becker, chief executive and co-founder of ETG, said: "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. We see a significant opportunity to grow its reach across the UK and beyond."
Sjoerd Smaal, CFO and co-founder of ETG, concluded: "What drew us to Lightning Reach was the combination of a genuine social mission, an exceptionally talented team, and a platform that makes accessing and delivering financial support faster and simpler for everyone involved. With our long-term backing, resources and entrepreneurial culture, we believe Lightning Reach can continue scaling its impact to support many more people. We are thrilled to be part of the next stage of the journey."
About Lightning Reach
Lightning Reach helps people access the financial support available to them through a single, simple platform — laying the foundations for lasting financial stability. Our technology provides the infrastructure organisations rely on to deliver support faster, reduce admin and increase impact at scale. Since launch, more than 300,000 people have unlocked over £25 million in financial support through Lightning Reach. Website: www.lightningreach.org
About European Technology Group (ETG)
European Technology Group is a long-term oriented platform that acquires and scales exceptional software businesses serving the public sector and other regulated industries in Europe. Built and backed by entrepreneurs for entrepreneurs, ETG provides a strategic platform for founders and their teams, offering resources to support growth in areas such as sales, international expansion, and product development specialised on companies serving the public sector. ETG currently has over 400 public sector clients serving a combined population of over 14 million citizens across six countries. Learn more at www.etg.org.
About CapEQ
CapEQ is a UK-headquartered M&A advisory boutique specialising in sell-side mandates for founder-led independent businesses in the £5m–£100m revenue range. It is Europe's first Certified B Corporation M&A firm, founded in July 2020 and led by James Pugh, Mark Sapsford and Douglas Edmunds.
