Brighte

On September 9, 2022, Australian fintech company Brighte laid off approximately 58 full-time employees, representing a 27% reduction of its Australian team. The layoffs resulted from the company's decision to close business units focused on longer-term, non-core projects, including offshore expansion plans and the development of certain tech platform capabilities. This restructuring aims to accelerate Brighte's pathway to profitability by focusing solely on its core sustainable home finance business, which provides point-of-sale financing for solar, batteries, and home improvements through a network of over 2,200 vendors. The move is intended to better position the company to navigate current market conditions while continuing its mission to make homes more sustainable.

In June 2022, Australian fintech Brighte, which specializes in financing residential renewable energy and solar installations, laid off more than 30 employees, representing about 15% of its workforce. The company, backed by prominent investors including Atlassian billionaires, made the cuts to preserve cash in anticipation of a potential one- to two-year economic downturn. Despite a surge in homeowner interest in solar due to rising energy prices, Brighte opted to streamline operations. The fintech had expanded into EV financing and aimed to become an energy retailer, but faced scrutiny over its financing of overpriced solar systems for vulnerable customers.