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Bright Money is a Consumer FinTech company based in San Francisco, USA, and Bangalore, India. It builds consumer digital products that use Artificial Intelligence to improve how people make personal financial decisions, with their credit cards, checking accounts and personal savings.
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The Bright team has a strong background in Artificial Intelligence and Data Sciences. The team was founded by Avi Patchava (former McKinsey, InMobi), Petko Plachkov (former McKinsey, CommuterClub founder), Varun Modi (former InMobi) and Alexander Seyfert (former Amazon, Yahoo). Bright has raised funding of +$25m from 28 angel investors (incl. Naveen Tewari and Kunal Shah) between
San Francisco and Bangalore, and 4 Venture Capitalist funds: Sequoia, Falcon Edge, Hummingbird, and Oakhouse partners.

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2021 Bright Capital Inc.

¹ How does Bright calculate our average payment?

Bright calculates and makes payments using our MoneyScience™ system, which analyzes your debt and targets the card with the highest interest charges, while also making at least the minimum due on all your connected cards. Bright also studies your checking account balance, your spending habits; and your recurring bills and adjusts payments to your goals and what you can afford. Our average payment was last calculated in April 2021, using data for users who enrolled between January 2020 and March 2021 and assuming users weren’t adding to their debt over the projected period. Payments always vary between users, because Bright tailors payments to your individual finances, debts and goals.

² How does Bright save money for users?
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One of the ways Bright saves money for our users is to lower the interest charges incurred while paying down debt. Bright’s MoneyScience™ system makes smart payments on your debts, making sure high-interest debt is paid down first, a method that lowers your interest charges. Bright also always pays at least the minimum due on all cards connected to Bright, making payments on time, so users also avoid late fees. When we calculate our users’ average potential savings, we use the difference between using Bright versus paying just the minimum due. We also assume users aren’t adding to their debt over the period we’re estimating savings. Average savings are calculated on an annual basis, and when we estimate lifetime savings, we use data for users who joined us between January 2020 and March 2021. The amount you save with Bright will vary based on several factors, including payments you make yourself, your credit card balances, APRs, other card charges and fees Bright can’t control, and other activities.

* Based on Apple Appstore and Google Playstore ratings as on September 2021.

** Available in select states in beta.