Residential solar power buy now, pay later financier Brighte has laid off 15 per cent of its workforce as it looks to shore up its operations to withstand an extended market downturn, ushered in by higher interest rates and declining tech company valuations around the world.
Brighte has a roll-call of big name backers, led by Atlassian co-founder Mike Cannon-Brookes’ Grok Ventures, Kim Jackson and Scott Farquhar’s Skip Capital, and Sydney-based venture capital firm AirTree Ventures.
It has raised significant funds, including more than $145 million in equity, with a $100 million round in late 2020, and debt totalling $500 million since 2016, including Australia’s first all-green asset-backed security deal in the Australian public debt market.
