NewsMike Cannon-Brookes has joined a $4 million funding round...

Mike Cannon-Brookes has joined a $4 million funding round in this home improvements fintech startup

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Atlassian co-founder Mike Cannon-Brookes has backed Sydney-based
fintech startup Brighte, leading the way in a $4 million Series A
funding round through his private investment company Grok
Ventures.

Former Macquarie manager Katherine McConnell left the bank in
2016 to become the first female founder of a lending business in
Australia. She self-funded her start-up, effectively becoming
micro-banker for home improvements, with a focus on energy
efficiency.

Brighte uses a smartphone app to approve on-the-spot finance for
home improvements such as solar panels, home batteries, and even
roofing from approved vendors via unsecured zero interest finance
agreements.

The business is just 10 months old but already has more than 1000
customers with an average loan size of $10,000.

The latest $4 million investment follows a $3.5 million seed
funding round last year.

Cannon-Brookes sees McConnell’s as a way to transform household
energy using solar and batteries.

“Brighte is a fantastic way for Australians to get the latest
renewable energy innovations into their home,” Cannon-Brookes
said.

“Australia is one of the sunniest countries on the planet – it’s
a no-brainer that we can lead the charge globally on clean,
affordable energy and Brighte is a great way to help make that
happen.”

McConnell says the funds will be used to build the team and
further develop the platform.

“Having an investor of the calibre of Mike Cannon-Brookes is a
gear-change for Brighte and will mean we can accelerate making it
easier for Australians to make their homes more energy
efficient,” she said.

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