Peak Xv Backed Bright Money Raises 62 Mn Startuplanes

Bonisiwe Shabane

-Dec 28, 2025, 7:34 AM

peak xv backed bright money raises 62 mn startuplanes

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. The startup has raised $50 Mn in debt from Encina Lender Finance and $12 Mn in equity led by Alpha Wave, Hummingbird, and Peak XV This infusion will enable Bright Money to aggressively cater to millennials, especially in the US, the startup said Founded in 2019, Bright Money focuses on the liabilities of a consumer: personal lending and credit cards

Consumer fintech startup Bright Money has secured $62 Mn funding in a mix of equity and debt. The startup has raised $50 Mn in debt from Encina Lender Finance and $12 Mn in equity led by Alpha Wave, Hummingbird, and Peak XV. See the top gainers, losers, invest and get updated what's happening in the crypto market Discover the secret world of unlisted shares — analyse India's top pre-IPO companies and invest before they hit the markets Consumer fintech startup Bright Money on September 27 secured $62 million in funding in a mix of debt and equity. The equity portion, amounting to $12 million, was led by prominent investors such as Alpha Wave, Hummingbird, and PeakXV.

Additionally, the fintech startup raised $50 million in debt, with Encina Lender Finance leading this particular funding round. The startup plans to utilise the funding towards product building and hiring across teams like product development, technology, analytics, and support functions like compliance and customer service, the company said in a media statement. Founded in 2019 by a team from McKinsey’s Banking Practice Petko Plachkov and Avi Patchava and former InMobi Data Scientists Varun Modi, Avinash Ramakath, Jay Merwade, Amit Bendale, the company aims to reshape how... Consumer fintech startup Bright Money secured $62 million in funding in a mix of debt and equity. The equity portion, amounting to $12 million, was led by prominent investors such as Alpha Wave, Hummingbird, and PeakXV, according to moneycontrol report. Additionally, the fintech startup raised $50 million in debt, with Encina Lender Finance leading this particular funding round.

The startup plans to utilise the funding towards product building and hiring across teams like product development, technology, analytics, and support functions like compliance and customer service, the company said in a media statement. Founded in 2019 by a team from McKinsey’s Banking Practice Petko Plachkov and Avi Patchava and former InMobi Data Scientists Varun Modi, Avinash Ramakath, Jay Merwade, Amit Bendale, the company aims to reshape how... “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 personalized payment plans along with working as a data-powered assistant in money management” said Modi, Cofounder & CTO, of Bright Money. 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.

Peak Xv Backed Bright Money Raises 62 Mn Startuplanes

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Consumer Fintech Company Bright Money Has Closed $62 Million In

It Deals In Credit Cards, Student And Car Loans. The

Consumer Fintech Startup Bright Money Has Secured $62 Mn Funding

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The Startup Plans To Utilise The Funding Towards Product Building