Brite AB

Business Model

Brite AB operates as a licensed Payment Institution under Swedish law, offering a fully integrated instant payments and payouts platform for e-commerce, iGaming, financial services, and other verticals. The company generates revenue primarily through transaction fees charged to merchants for each payment processed via its network. By leveraging open banking APIs and real-time payment schemes, Brite eliminates the need for card networks, reducing costs for merchants and providing a seamless checkout experience for consumers.

Products and Platform

Brite’s core product suite includes Brite Instant Payments for real-time pay-by-bank transactions, Brite Instant Payouts for sending funds like refunds or winnings directly to consumer bank accounts, and Brite Data Solutions which provides enriched transaction data and consumer insights via open banking APIs. The foundational infrastructure is the Brite Instant Payments Network (Brite IPN), a proprietary system that connects to over 3,800 banks across 27 European markets, enabling 24/7 settlement, currency conversion, and high success rates. Merchants integrate via a single API without needing separate settlement accounts.

Market Position and Competition

Brite positions itself as a “second-generation” open banking payments provider, moving beyond simple payment initiation to offer full settlement and instant processing. Key competitors include other European open banking payment platforms such as Trustly, Klarna’s pay-by-bank offering, and TrueLayer. Brite differentiates through its focus on the iGaming sector, where instant deposits and payouts are critical, and through its proprietary IPN that aggregates multiple national real-time schemes. Customer testimonials highlight improved conversion rates and reduced fraud compared to traditional card payments.

Recent Developments and Growth

After reaching profitability in 2022, Brite more than doubled transaction volume and revenue that year. In October 2023, the company raised $60 million in Series A funding led by Dawn Capital, with Headline and Incore Invest participating. The funds are earmarked for geographic expansion, further development of the Brite IPN, and hiring. The company was recognized by Deloitte as the 7th fastest-growing tech company in Sweden in 2024. As of December 2025, Brite employs approximately 100 people, up from about 50 in 2022.

Regulatory and Compliance

Brite is regulated as a Payment Institution by the Swedish Financial Supervisory Authority and complies with PSD2, GDPR, and AML regulations. This regulatory framework allows Brite to operate across the European Economic Area, offering a secure and compliant payment solution that eliminates chargebacks and reduces fraud risk for merchants.