About Bright
Bright is a company based in San Francisco (United States) founded in 2019 by Varun Modi. It operates as a FinTech, and Subscription Services. Bright has raised $43 million across 5 funding rounds from investors including Peak XV Partners, FJ Labs and Encina Capital Partners. The company has 161 employees as of April 09, 2024. Bright offers products and services including Bright Builder, Bright Credit, and Personal Loans. Bright operates in a competitive market with competitors including Debitize, Debx, MasonPay, Plurimos and VCCWAVE, among others.
- Headquarter San Francisco, United States
- Employees 161 as on 09 Apr, 2024
- Founders Varun Modi
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Bright Capital Inc.
- Date of Incorporation 06 Aug, 2019
- Jurisdiction Bangalore South, Karnataka, India
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Annual Revenue
$5.3 M (USD)22.72as on Mar 31, 2023
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Net Profit
$571.24 K (USD)28.47as on Mar 31, 2023
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EBITDA
$1.21 M (USD)43.12as on Mar 31, 2023
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Total Equity Funding
$43 M (USD)
in 5 rounds
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Latest Funding Round
$50 M (USD), Debt – Conventional
Sep 27, 2023
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Investors
Peak XV Partners
& 12 more
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Employee Count
161
as on Apr 09, 2024
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Products & Services of Bright
Bright offers a comprehensive portfolio of products and services, including Bright Builder, Bright Credit, and Personal Loans. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Credit history is built with on-time payments.
Credit line is offered for debt repayment.
Personal loans are provided through network partners.
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Funding Insights of Bright
Bright has successfully raised a total of $43M across 5 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $50 million completed in September 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 5
- Last Round Debt – Conventional — $50.0M
- First Round First Round
- Investors Count 13
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2023 | Amount | Series B - Bright | Valuation | Alpha Wave Global , Hummingbird Ventures |
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| Sep, 2023 | Amount | Debt – Conventional - Bright | Valuation |
investors |
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| Jun, 2022 | Amount | Series A - Bright | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Bright
Bright has secured backing from 13 investors, including venture fund and angel investors. Prominent investors backing the company include Peak XV Partners, FJ Labs and Encina Capital Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital firm focused on growth-stage companies
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Founded Year | Domain | Location | |
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Investments in early-stage startups are focused on by Hummingbird Ventures.
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Founded Year | Domain | Location | |
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Venture capital firm investing in startups and providing support programs.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Bright
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Bright
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Bright Comparisons
Competitors of Bright
Bright operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Debitize, Debx, MasonPay, Plurimos and VCCWAVE, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Credit Card Debt Management
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| domain | founded_year | HQ Location |
Provides a comprehensive solution for managing credit cards effectively.
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| domain | founded_year | HQ Location |
Operates an app-based mobile wallet for secure payments.
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| domain | founded_year | HQ Location |
Offers an app-based platform for managing credit card payments.
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| domain | founded_year | HQ Location |
Offers virtual credit cards for secure online shopping and subscription management.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Bright
Frequently Asked Questions about Bright
When was Bright founded?
Bright was founded in 2019.
Where is Bright located?
Bright is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Is Bright a funded company?
Bright is a funded company, having raised a total of $43M across 5 funding rounds to date.
How many employees does Bright have?
As of Apr 09, 2024, the latest employee count at Bright is 161.
What is the annual revenue of Bright?
Annual revenue of Bright is $5.3M as on Mar 31, 2023.
What does Bright do?
Bright is engaged in providing financial technology solutions for debt management and credit building. Services are offered in the personal finance sector, including credit lines, personal loans through partners, and tools for payment history improvement. Custom money plans and automated fund movements are provided to help users achieve financial goals. Security of user data is prioritized with bank-level encryption.
Who are the top competitors of Bright?
What products or services does Bright offer?
Bright offers Bright Builder, Bright Credit, and Personal Loans.
Who are Bright's investors?
Bright has 13 investors. Key investors include Peak XV Partners, FJ Labs, Encina Capital Partners, Alpha Wave Global, and Hummingbird Ventures.
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