Brighte

SIZE OF LOAN BOOK	>A$582M
MAKEUP OF LOAN BOOK	Consumer lending: 100%
GEOGRAPHIC DISTRIBUTION OF LOAN BOOK	Australia: 100%
OUTSTANDING DEBT ISSUANCE	A$241M

About Brighte

Brighte is on a mission to make sustainability affordable and accessible for everyone, offering households, communities and businesses a fast and easy way to pay for solar, battery, home electrification and energy efficiency.

Founded in 2015, Brighte has enabled more than 130,000 Australian households to get solar sooner and to electrify their homes – via its partnership with more than 2,300 solar and electrification retailers and as the exclusive administration partner for state government sustainability schemes, including ACT and Tasmania.

By August 2023, Brighte had processed more than A$2 billion in finance applications across Australia. As a purposeled business supporting the power shift in the home, Brighte financed installations have the capacity to reduce household CO2 emissions by more than 1.1 million tonnes each year, a figure that represents more than 960MW of solar generation capacity.

Ownership, history and capital structure

As a private company, Brighte has demonstrated strong investor support by successfully raising capital each year. Brighte’s list of high-quality investors includes Atlassian co-founders Mike Cannon-Brookes and Scott Farqhuar (through Grok Ventures and Skip Capital, headed by Kim Jackson, respectively), AirTree Ventures, Singaporean venture capital firm Qualgro and other high net worth investors.

Brighte is led by a senior executive team and board with deep experience in finance, technology and delivering innovative customer solutions.

Target market and asset performance

Brighte’s customers are Australian homeowners with high quality credit who are financing an average A$8,600 purchase over 5-6 years.

Brighte’s loan book has shown strong performance, with 30-day plus arrears of less than 1%. The resilience of the book has also been demonstrated by exceptionally low levels of hardship through the COVID-19 environment and in the prevailing monetary hiking cycle.

Funding strategy

Brighte operates a single warehouse facility in partnership with a major Australian bank and private mezzanine investors that has been in place since 2019. A number of other private sources of capital have been used to fund different business lines including P&A agreements, whole loan funding and white labelling.

Brighte is a mature participant in public ABS markets. In 2020, Brighte issued the first wholly green certified ABS under the Brighte Green Trust programme, which it has followed annually. In July 2023, Brighte called BGT2020-1 at the first opportunity and returned capital to early supporters of the programme.

Recognition

Brighte has been recognised with several awards, including:

2023: Green Lender of the Year (Finder Awards).
2023: Positive Impact Award (Finnies – Fintech Australia Awards).
2023: Norrsken Impact/100 Award.
2022: Banking, Superannuation and Financial Services Sustainability Leader of the Year (AFR Sustainability Leaders).
2022: Green Lender of the Year (Finder Green Awards).
2021: Best Fintech Lender (Australian Fintech Awards).
2021: Green Lender of the Year (Finder Green Awards).
2021: Outstanding Fintech Leader of the Year (Finnies – Fintech Australia Awards).
2020: Green Lender of the Year (Finder Green Awards).
2019: Best Use of AI in Fintech (Australian Fintech Awards).
2019: Best Fintech-Bank Collaboration (Australian Fintech Awards).
2019: Deloitte Asia-Pacific Technology Fast 500 (fourth fastest-growing tech company in the Asia-Pacific region and second-fastest-growing in Australia).