Fintech Firm Bright Money Raises 62 Mn In Equity Debt Round

Bonisiwe Shabane

-Dec 28, 2025, 7:38 AM

fintech firm bright money raises 62 mn in equity debt round

PierSight receives $600,000 in pre-seed funding led by All In Capital Zeron Secures $500,000 in a Seed Funding Round Headed by Varanium Capital © 2025 siliconindia.com All rights reserved. Newsletter | Privacy Policy | Editorial Policy | Feedback Policy Information you can trust:Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day, Sign up for our free daily newsletter: thomson@reutersmarkets.com If you are an entrepreneur or a startup founder with an interesting founding story, tell us and siliconindia startupcity may end up telling the whole world about it.

startupcity encourages successful startups to share their success stories and get featured in our My Startup Journey section. startupcity empowers and inspires young entrepreneurs by delivering useful and original content to its readers. startupcity wants to hear about the latest and greatest startup stories that will motivate, and inspire aspiring entrepreneurs.startupcity welcomes your stories! Bright Money, a consumer fintech firm, has successfully raised $62 million in its latest funding round. This funding comprises $50 million in debt financing from Encina Lender Finance and $12 million in equity investment led by Alpha Wave, Hummingbird, and PeakXV. Encina Lender Finance specializes in providing lending solutions to consumer and commercial specialty finance companies in the US and Canada.

Established in 2019 by a team combining expertise from McKinsey’s Banking Practice, including Petko Plachkov and Avi Patchava, and data scientists from InMobi, including Avi Patchava, Varun Modi, Avinash Ramakath, Jay Merwade, and Amit... The company offers a mobile app equipped with an array of tools and products designed to help individuals effectively handle and eliminate debt. Bright Money’s product suite encompasses credit score improvement, automated debt reduction plans, financial and budget planning tools, as well as refinancing options. Its services extend to credit cards, student loans, and car loans. Avi Patchava, Co-founder & Co-CEO of Bright Money, expressed, “At Bright Money, we have seen a 6x growth in the last year and now reach hundreds of thousands of users. We believe data is a positive force that can have transformative effects if used effectively.

Our team is passionate about the application of Data Sciences and AI to solve real-world problems for the everyday consumer who is managing high debt.” Petko Plachkov, Co-founder & Co-CEO of Bright Money, added, “At Bright Money, we are a team of Data Scientists, Engineers, Product Builders, and Service professionals who want to build the world’s best technology to... The funding will be deployed towards building robust teams across product development, technology, analytics, and support functions like compliance and customer service.” Unable to load subscription plans. Please try again. Your 14-day free trial lasts until 18-02-2021.

If you don't want to continue using e27 Pro, just cancel before the trial ends and you won't be charged (we'll email you before the trial ends to remind you). Otherwise, you will be charged for the e27 Pro membership, depending on the plan you are on. You can cancel any time. Congratulations! Your e27 Pro membership is now active. Consumer fintech company Bright Money has closed $62 million in what appears to be Series B round for the Bengaluru and San Francisco-based startup.

The funding consists of $50 million debt from Encina Lender Finance and $12 million equity led by Alpha Wave, Hummingbird, and Peak XV Partners. Encina Lender Finance provides lending solutions to consumer and commercial specialty finance companies across the US and Canada. In September 2021, Peak XV, Falcon Edge Capital and Hummingbird Ventures led a $31 million Series A round for Bright Money. The fresh infusion will enable Bright Money to aggressively cater to millennials, especially in the US, the company said in a press release. Four-year-old Bright Money helps consumers get out of debt and its products include credit score building, automated debt paydown plans, financial planning, budget planning tools, and refinance loans. It deals in credit cards, student and car loans.

The company aims to reshape how global retail banks operate driven by big data and AI. It currently has a team of more than 180 employees with a majority of the core product, tech, data, marketing and service teams all based out of India. Bright has raised a total funding of $43M over 5 rounds. Its first funding round was on 2019. Its latest funding round was a Series B round on Sep 27, 2023 for $12M. 3 investors participated in its latest round, lead by Alpha Wave Global, Hummingbird Ventures and Peak XV Partners.

Bright has 9 institutional investors including Hummingbird Ventures, Alpha Wave Global and Peak XV Partners. Kunal Naresh Shah and 6 others are Angel Investors in Bright. Consumer fintech company Bright Money on Wednesday announced it has raised $62 million in an equity and debt round. Bengaluru, Sep 27 Consumer fintech company Bright Money on Wednesday announced it has raised $62 million in an equity and debt round. The funding includes $50 million in debt from Encina Lender Finance and $12 million in equity led by Alpha Wave, Hummingbird, and PeakXV. With over 180 team members based in India, the company said it will use fresh funds to aggressively cater to millennials, especially in the US.

“At Bright Money, we exist to give users a path to being debt-free with AI-driven financial planning. Bright Money's intelligent systems help create personalised payment plans along with working as a data-powered assistant in money management” said Varun Modi, Co-founder and CTO, Bright Money.

Fintech Firm Bright Money Raises 62 Mn In Equity Debt Round

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