Brighte Layoffs
June 2022
Brighte announced a layoff affecting 30 employees (15% of its workforce) in June 2022. The company operates in the Energy sector.
30
15%
Jun 20, 2022
About
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.
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