Brite Payments, a Stockholm, Sweden-based company which specializes in instant bank payments, raised $60M in funding.
The round was led by Dawn Capital, joined by Headline, and existing investor Incore Invest.
The company intends to use the funds to accelerate its geographic expansion, strengthen its presence in existing markets, and invest further in product development. The capital will drive further development of the Brite Instant Payments Network (Brite IPN).
Led by Lena Hackelöer, Founder and CEO, Brite Payments is an instant payments provider that leverages open banking technology to process account-to-account (A2A) payments in real time between consumers and online merchants. With it, no signup or credit card details are required as consumers authenticate themselves using their bank’s usual identification method.
Brite Instant Payments Network (Brite IPN) is a proprietary network that is the backbone of the company’s offering. Brite IPN facilitates 24/7 instant processing 365 days a year, and offers significant advantages over traditional open banking payments – including taking full receipt of funds and settling them rapidly on behalf of merchants, in the currency of their choice.
Brite is connected to more than 3,800 banks within the EU and its offering is currently available in 25 markets across Europe.
FinSMEs
04/10/2023