Sweden’s Brite Payments, a leader in instant bank payments, raises $60m to accelerate instant bank payments across Europe
In brief:
-Brite Payments leverages open banking to give businesses a complete, out-of-the-box instant payments and payouts solution
-The funding round was led by Dawn Capital and joined by Headline and Incore Invest. The raise will be used to fuel product development and further expansion.
-Founded in 2019 by Lena Hackelöer, Brite is among Sweden’s fastest-growing fintechs following a breakout year that saw the company reach profitability
What does this mean?
Josh Bell, General Partner, Dawn Capital, said: “We are on the cusp of open banking 2.0. The prospect of real-time account-to-account payments becoming mainstream across Europe is on the horizon, and Brite stands to be the category leader. We’ve been on the ground in this space from the start, with early investments in Swedish fintech leaders including iZettle and Tink, and we believe Brite is on an equally stellar path. Lena is an extremely impressive CEO with first-rate domain knowledge and the all-round skills to build another market-leading global fintech from Europe. Deploying a driven bootstrap approach, Lena and her talented team have built a company with an impressive product and have rapidly reached profitability – a real feat for an early-stage open banking startup. We now can’t wait to help power Brite onto the world stage.”
