Fintech startup Bright Money raises $12-M from Alpha Wave, PeakXV, Hummingbird

San Francisco- and Bengaluru- based consumer fintech company Bright Money has raised USD 12 million in equity funding led by Alpha Wave Global, Hummingbird Ventures and PeakXV Partners. The funding round was accompanied by a USD 50 million from Encina Lender Finance Founded in 2019 by Petko Plachkov, Bright Money aims to help consumers manage their debt better. The firm's products include credit score building, automated debt paydown plans, financial planning, budget planning tools, and refinance loans. It works with credit cards, student loans, and car loans.