Swedish fintech Brite Payments has raised $60 million in a funding round led by Dawn Capital, aiming to expand its instant payments platform using open banking technology.
Facts
- Swedish fintech Brite Payments secured $60 million in funding.
- Funding round led by Dawn Capital, with participation from Headline and existing investor Incore Invest.
- Founded in 2019 by Lena Hackelöer, Brite Payments offers real-time account-to-account payments (A2A) leveraging open banking technology.
- Currently connected to 3,800 banks across 25 European countries.
- Doubled its transaction volume and revenue in 2022, achieving profitability.
- Appointed a new CFO and COO in July.
- Plans to expand geographically and strengthen its presence in existing markets.
- Investing in further product development.
- Developing Brite Instant Payments Network for 24/7 “instant” processing with advantages over traditional open banking payments.
- Aims to simplify A2A payments for merchants and eliminate operational hassles.
