Brite Payments secures a financing round of 60 million US dollars

Swedish fintech company Brite Payments plans to use the funding to strengthen its presence in existing markets and further develop its Instant Bank Payments Network.

Stockholm - Brite Payments, a European provider of instant bank payments, has closed a financing round of 60 million US dollars (approx. 56 million euros). Dawn Capital, a B2B software investor, is leading the round. Existing investors such as Headline and Incore Invest are also participating.

We see account-to-account payments gaining popularity across Europe, but many merchants are still struggling to realize the full potential for their business.

Lena Hackelöer, founder and CEO of Brite Payments

Brite Payments, founded by Lena Hackelöer in 2019, is one of the fastest growing fintech companies in Sweden and was already profitable in 2022. The company offers account-to-account (A2A) payments and payouts in real time using open banking.

We are on the cusp of Open Banking 2.0, with the prospect of real-time A2A payments becoming mainstream across Europe and Brite leading the category.

Josh Bell, General Partner, Dawn Capital

Brite plans to use the funding to drive internationalization, expand its presence in existing markets and invest in product development. A key focus will be the further development of the Brite Instant Payments Network (Brite IPN), a network that enables instant, 24/7 payment processing and offers advantages over traditional open banking payments.

Brite Payments has created the technical foundation for the payments of tomorrow - and I am convinced that the company will gain further strength with the increasing acceptance of open banking payments.

Nicolai Chamizo, Partner at Incore Invest

The financing round was led by Dawn Capital, which has invested in Swedish payment companies in the past. Headline, a global VC, and Incore Invest, an early-stage investor, also participated. This shows the continued interest of investors in fintech companies with solid business models and clear growth strategies.