Website
https://britepayments.com/
Active since
2019
Head office
Stockholm, Sweden
Country offices in
- Spain;
- Germany;
- Malta;
- United Kingdom.
Founder
Lena Hackelöer
Funding rounds and investors
USD 60 million funding round announced in October 2023, led by specialist B2B software investor Dawn Capital and joined by Headline and existing investor Incore.
Number of employees
~150
Member of industry association and/or initiatives
- Payments Association EU;
- Swedish FinTech Association;
- EHI Retail Institute.
Awards
- Retail Systems Awards 2024 - 'Alternative Payments Solution' and 'Payments Innovation Award';
- PayTech Awards 2024 - 'Tech of the Future - A2A Payments';
- Hustle Awards 2024 - 'Most Successful Scaleup' and 'Founder of the Year'.
Contact
info@britepayments.com / +46101888777
Core solution
The company`s core solutions
- Brite Instant Payments enable low-friction, secure, and cost-effective account-to-account (A2A) fund transfers through Open Banking APIs.
- Brite Instant Payouts facilitate instant payouts from businesses to their customers, providing end users with peace of mind that money will arrive reliably and quickly.
- Brite Data Solutions provide instant access to essential bank account data that can be used for verification purposes or to check financial standing (includes AIS and standalone KYC).
What problem does the company solve?
The payments sector is still plagued by inefficiencies – including how merchants implement new payment options for their customers. Brite Payments leverages the capabilities of Open Banking to give merchants and businesses a complete and easy-to-integrate instant account-to-account (A2A) payments and payouts solution that delivers high checkout conversion, reduction of fraud and risk as well as bottom-line cost-savings and top-line revenue growth.
Major use cases & products
Brite serves customers in a growing number of industries and verticals where instant bank payments and payouts offer numerous advantages over traditional card-based payments. Instant payments facilitated by Open Banking deliver operational cost-savings, a smoother customer experience, reduced fraud risk, and elimination of chargebacks.
Competitive advantage
Seamless payments and superfast payouts, powered by the Brite Instant Payments Network (IPN). Brite IPN offers significant advantages over traditional Open Banking payments (i.e. PIS) by taking full receipt of incoming funds and settling them rapidly on behalf of merchants across Europe. The Open Banking-first proprietary network enables 24/7/365 instant payments processing.
Types of supported APIs\API standard supported
Restful JSON
Geographical coverage (operational area)
Brite is connected to more than 3,800 banks across 27 European markets, touching more than 350 million end consumers. 95%+ coverage in core markets.
Number of total end users
For details please contact our team: info@britepayments.com
Target market
Target segments/industries
Ecommerce, online marketplaces, ticketing, travel, consumer finance, insurance, neobrokers and trading platforms, charity/non-profit sector, money remittance, EV infrastructure, freelance, and gig worker platforms.
Current customers
Customer stories: https://britepayments.com/customer-stories/
Technology
Type of technology
Native cloud
Software language
Python, Go, Javascript, Typescript.
Software development tools
Pycharm, VSCode.
When was the core technology developed
2019
Licencing
Type of licence
Licenced by the Swedish Financial Supervisory Authority for operations across EU/EEA.
Partners
Distribution channels
Direct integration with merchants and through PSP partners.
Business model
Pricing model
Transaction-based pricing model (for more details contact our team: info@britepayments.com)
Revenue streams
Merchant service fees
Case studies
Case studies – examples
• Auctionet: Bringing auction payments into the 21st Century
• Northe EV: Powering Change Within the EV Charging Sector
• Suicide Zero: Enhancing the Donation Experience
• Billecta: Automating Payment Flows and Ensuring Smooth Transfers
https://britepayments.com/customer-stories/billecta/
Product roadmap
Planned features and releases/future plans
Further geographic expansion is planned for 2025, as well as strengthening the product offering within existing markets. A key focus is the further development of the Brite Instant Payments Network (Brite IPN); a proprietary network that is the backbone of the company’s offering.
