The Bengaluru based company spoke on the funding, said the new funding will be deployed towards building robust teams across product development, technology, analytics, and support functions like compliance and customer service.
Founded in 2019, Bright Money specializes in personal lending and credit card solutions within the fintech sector. Its comprehensive suite of offerings includes credit score enhancement, automated debt repayment plans, financial and budget planning tools, and refinancing options, covering a wide range of financial needs, including credit cards, student loans, and car loans.
Bright Money claimed it marked an impressive sixfold increase in user base over the past year, now catering to hundreds of thousands of users seeking innovative and tech-driven financial solutions.
Following reports, it announced it laid off 100 employees which is equivalent to 50% of its team in the past year, the company remains resolute in its mission to revolutionize the fintech landscape and empower consumers with AI-powered financial tools.
