News from the Wire

Brite Payments appoints Luke Trayfoot as CCO

Tuesday, April 16, 2024 — 11:51:25 (EDT)

Stockholm – 16 April, 2024 – Brite Payments, a leader in instant bank payments, today announced that Luke Trayfoot has joined the company as Chief Commercial Officer (CCO), leading the Stockholm-headquartered fintech’s commercial efforts. The appointment of the former PayPal and Mangopay executive signifies a new phase in Brite’s journey as it accelerates its growth in markets across Europe.

Brite Payments enables instant account-to-account (A2A) payments and payouts, leveraging Europe’s open banking infrastructure to build a fully-featured Pay by Bank solution, backed by its own proprietary network – Brite Instant Payments Network (Brite IPN). Brite announced a $60 million fundraise in October 2023, bringing on board new investors Dawn Capital and Headline. The fresh funding is being invested in technology development as well as bolstering its commercial team with local and sector-specific expertise. As the second-generation fintech’s CCO, Trayfoot will spearhead those efforts for Brite.

Luke Trayfoot joins Brite Payments from Mangopay, a marketplace payment infrastructure specialist, where he oversaw international expansion efforts and led strategic initiatives to deliver growth as the company’s Chief Revenue Officer. Previously, Trayfoot served as Director of Strategic Platforms & Marketplaces EMEA at PayPal, overseeing the successful post-acquisition integration of Hyperwallet. In his decade-plus career in financial services and payments, Trayfoot has consistently delivered revenue growth while building high-performing commercial teams.

“Brite Payments has built a strong foundation to be the category leader for instant bank payments – as well as having a strategic vision for how it can be achieved," said Luke Trayfoot, CCO, Brite Payments. “I’m excited to be a part of this journey and to lead commercial growth as instant payments become a checkout staple. With its complete out-of-the-box instant payments offering, Brite has succeeded in reducing operational complexities for merchants, while directly addressing many of their long-standing pain points.”

“Luke combines a wealth of sales leadership experience and deep payments expertise – making him ideally suited to join Brite as our first Chief Commercial Officer. We’re thrilled to have him join us and head up our commercial efforts across all sectors and countries where we operate,” said Lena Hackelöer, Founder & CEO, Brite Payments. “With his track record in driving market expansion and managing enterprise sales, Luke drives revenue growth as we expand our product offering and add local expertise in key European markets in 2024 and beyond.”

Recent research conducted by Brite Payments and YouGov reveals rising familiarity with Pay by Bank in Europe (73% of those surveyed indicate some level of familiarity with the payment method) with usage highest amongst younger demographics, showing the increased demand for alternative payment methods across the continent. Brite’s survey data also indicates consumer willingness to try new payment methods, with high importance placed on online payment methods that are fast, secure, and convenient.

For more information about Brite, please visit: www.britepayments.com

ABOUT BRITE

Brite Payments is a second-generation fintech based in Stockholm. The instant payments provider leverages open banking technology to process account-to-account (A2A) payments between consumers and online merchants in real-time.

With Brite, no signup or credit card details are required as consumers authenticate themselves with top-of-mind details using their bank’s usual identification method. Brite connects to more than 3,800 banks within the EU and its offering is currently available in 26 markets across Europe.

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Source: Company press release.