Brite Payments is a technology company.
Brite Payments has raised $60.0M across 1 funding round.
Brite Payments has raised $60.0M in total across 1 funding round.
Brite Payments has raised $60.0M in total across 1 funding round.
Brite Payments's investors include AF Ventures, Dawn Capital, Kevin Hart.
Brite Payments is a Stockholm-based fintech company founded in 2019 that provides instant payments and payouts powered by open banking technology, enabling real-time account-to-account (A2A) transfers between consumers and merchants without cards, apps, or sign-ups.[1][2][5] It serves online merchants and businesses across 27 European markets, connected to over 3,800 banks, solving pain points like slow processing, high fees, fraud risks, and cash flow delays by offering faster, cheaper, and more secure alternatives to traditional card payments.[1][2][3][5] The company demonstrates strong growth momentum through expansions like its 2025 partnership with German e-commerce platform OXID eSales for plug-and-play instant payments and payouts, alongside participation in industry events such as MPE Berlin 2025.[1][3]
Brite Payments emerged in 2019 in Stockholm, Sweden, as a "second-generation fintech" innovating on open banking to create "smarter, faster, and more financially sustainable" payment solutions.[1][2][5] Key leadership includes founder and CEO Lena Hackelöer, who emphasizes seamless integration and benefits like real-time processing for predictable cash flow and reduced costs, and CTO Harald, a co-founder with over 20 years in software development from prior roles at Qliro Financial Services.[2] The idea stemmed from leveraging open banking under PSD2 regulations to bypass card networks' limitations, gaining early traction by building a proprietary network for consistent instant payments across the Eurozone, even where SEPA Instant Credit Transfer (SCT Inst) adoption varies.[3][6]
Brite rides the real-time payments trend accelerated by open banking regulations like PSD2 and uneven SCT Inst adoption across Europe, where four in 10 Germans are open to new online methods amid rising e-commerce demands.[3][6] Timing aligns with merchants seeking card alternatives for lower costs (up to 50-80% savings vs. cards) and consumers favoring secure, app-free bank payments, fueled by market forces like fraud surges and instant payout needs in B2B/B2C.[1][3][7] Brite influences the ecosystem by enabling scalable solutions for platforms like OXID, promoting A2A as the "briter way" forward, and competing with players like Banked while pushing financial sustainability through reduced intermediaries.[2][3][6]
Brite Payments is poised for accelerated European expansion, building on 2025 partnerships and its robust bank network to capture growing A2A adoption amid mandatory SCT Inst pushes and e-commerce booms.[1][3][6] Trends like recurring payments, payouts for gig economies, and AI-driven fraud prevention will shape its trajectory, potentially evolving influence through deeper integrations and UK/EU market penetration despite bank support variances.[5][7] As a consumer-obsessed innovator, Brite could redefine payments from "dark ages" card reliance to instant, sustainable open banking norms, delivering the high-level efficiency that positions it as a next-gen leader.[2][5]
Brite Payments has raised $60.0M across 1 funding round. Most recently, it raised $60.0M Series A in October 2023.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Oct 1, 2023 | $60.0M Series A | AF Ventures, Dawn Capital, Kevin Hart |