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Brighte secures $100m Series C funding
Ashurst has advised Brighte on its $100 million Series C capital raise.
Tony Zhang
Firm: Ashurst (Brighte).
Value: $100 million.
Area: Venture capital.
Key players: The Ashurst team was led by partner Stuart Dullard and comprised senior associate Jason Maletic and lawyer Matthew Parbhu.
Deal significance: Brighte’s $100 million Series C capital raise was underwritten by Grok Ventures, the investment company of Mike and Annie Cannon-Brookes. Existing investors including Qualgro, AirTree Ventures and Kim Jackson and Scott Farquhar’s Skip Capital also participated in the round.
The funding will be used to fast-track Brighte’s next stage of growth and to launch a new energy “gen-tailer” model. Brighte plans to use the funds to expand its operations to develop a single, seamless energy finance and retailing solution, significantly simplifying its customers’ experience.
Headed up by founder Katherine McConnell, Brighte offers credit services allowing households to install energy products such as solar panels and batteries, as well as helping fund home improvements.
Founded in 2015 and launched a year later, Brighte has approved more than $600 million in finance for about 75,000 Aussie households.
