During our visit to Lithuania, we discovered the “Vinted mafia” — a network of new companies founded by former Vinted employees. This trend extends to other innovative Lithuanian firms like Revolut, whose former engineer Nick Denisenko now leads Brighty, a company bridging cryptocurrency with everyday financial needs. In December 2024, Brighty secured $10 million to make cryptocurrency as accessible as traditional money. The company’s total funding now stands at $16.3M, with an undisclosed valuation.
Brighty operates in a booming market. The global fintech sector is projected to reach $124.3 billion by 2025, while the crypto market is set for major growth through broader adoption and more transparent regulations. By targeting specific segments like cross-border payments for freelancers and migrants, Brighty serves a critical yet overlooked market.
Tech Funding News spoke with Denisenko about the evolution of money in the digital age, decentralised finance, Europe’s regulatory landscape, and fintech’s future. Here’s what he told us.
Behind Brighty: Pioneering the simplification of DeFi for everyday users
Before founding Brighty in Switzerland in 2020, Nick Denisenko worked on a small team at Revolut, where he developed expertise in building exceptional products and teams. His vision extended beyond traditional digital banking — he saw an opportunity in crypto remittance and DeFi.
Denisenko told TFN exclusively: “I noticed that crypto remittances are booming. You can use crypto not just for investment but for paying salaries or making daily purchases.” However, existing DeFi solutions proved too complex for most people. Nick added: “The technology was too complicated for average users: only crypto enthusiasts and tech-savvy people could use it, while everyone else struggled.”
At its core, Brighty aims to create a user-friendly hybrid digital finance platform that combines crypto and fiat currencies. Denisenko explained their approach: “Most of our engineers come from Revolut, where we learned to build the best possible UX/UI. We focus intensely on making our product as easy to use as possible.”
Brighty’s approach aligns with a broader trend among fintech startups to simplify complex financial systems. While its hybrid model resembles Coinbase’s efforts to mainstream cryptocurrency or Chime’s user-friendly digital banking, Brighty sets itself apart by serving specific markets — cross-border freelancers and digital nomads who need seamless payment solutions, groups often overlooked by traditional banks.
Drawing from Denisenko’s Revolut experience, Brighty applies proven user experience principles while tailoring its offerings for crypto earners, positioning itself as a potential disruptor in fintech and DeFi spaces. The company also emphasises customer education: “We strive to help customers understand the nuances of crypto. We provide a bridge connecting the fiat and crypto worlds while generating revenue from that connection. Our customers can simply use the service as intended — receiving a salary, for instance, can be transferred to their bank account or email effortlessly.”
Is MiCA shaping the future of Europe’s crypto market? The short answer is yes.
Compliance and transparency are paramount in the crypto industry. This aligns with the EU’s Markets in Crypto-Assets (MiCA) regulation, which aims to provide legal certainty, foster innovation, and protect investors through a uniform regulatory environment.
The impact of MiCA regulation is clear. Denisenko explained: “We’re becoming more transparent regarding documentation requirements for regulators. In Europe, USDC may be a substitution for USDT. Even major organisations like Kraken and Binance may stop supporting USDT.” Nick sees this as both a challenge and opportunity, as regulators work to integrate crypto into the financial ecosystem while acknowledging current limitations.
Regarding Brighty’s crypto users, Denisenko revealed that customers receiving salaries in stablecoins typically spend 60% of their funds and save 40%. The average crypto earner deposits $3,500, spends $1,550 monthly, and saves $1,950. Notably, 18% of users transfer their funds to Revolut accounts, showing their connection to the platform.
For account deposits beyond euros, users primarily choose USDT (85%), followed by USDC (5%) and BTC (5%). In savings, 54% keep funds in euros, 32.6% in USDT, and 4.4% in EURT. Users mainly spend on travel, luxury goods, and money transfers.
Demographically, Brighty focuses on crypto earners, international freelancers, and migrants seeking payment services. Denisenko explained: “Our platform serves freelancers working for companies outside Europe and migrants coming to Europe who need to receive international payments.”
Together with our partners, Brighty serves customers everywhere across the EU but finds a bit more interest from countries such as Spain, Portugal, and Poland. Nick noted: “In Spain, we rely on influencers. Other countries use peer marketing or referral programs. We’re exploring regions like LATAM, GCC, MENA, and Indonesia to identify where Brighty can provide the most value.”
While regulatory compliance brings challenges such as higher operational costs and stricter reporting requirements, it also creates opportunities by legitimising cryptocurrency within traditional financial systems. Brighty’s proactive stance o
Fraud monitoring and future outlook
Brighty combats fraud by using AI-driven behavioral pattern analysis to identify suspicious transactions. Denisenko explained, “We monitor unusual patterns, such as immediate withdrawals after deposits. Our focus is preventing fraud while maintaining a smooth experience for legitimate customers.”
Denisenko shared their collaboration with the Lithuanian Ministry of Education to address crypto fraud targeting students. The initiative aims to educate students about the risks of sharing financial platform access, selling accounts that could enable money laundering, and understanding the legal consequences of these actions.
“We recently approached the Ministry of Education in Lithuania, expressing our eagerness to collaborate and educate students vulnerable to these malicious schemes,” Denisenko added.
Beyond fraud prevention, Brighty leverages AI for crypto earning and portfolio stock management. Their AI portfolio feature categorises stocks by themes (IT, Technology, Retail, Consumer Goods) and handles rebalancing. “Our AI engine selects these portfolios based on various stock attributes and sectors, with daily proportion adjustments,” Denisenko explains. Brighty’s ability to scale profitably while maintaining MiCA compliance will be crucial for potential investors.
The company is rolling out new features, including corporate expense management cards and an enhanced referral program, while exploring rebranding options. These initiatives aim to boost user acquisition and retention while filling service gaps. However, global expansion brings challenges in navigating diverse regulations and competing with established cross-border payment providers like Payoneer and Wise.
Through its commitment to education, AI-powered fraud prevention, plans for geographic expansion, and new features like corporate cards, Brighty is positioned to influence both fintech and crypto ecosystems, provided it can successfully navigate regulatory changes like MiCA.
The post Exclusive: Brighty’s Denisenko on $124.3B opportunity, closing crypto-fiat gap, and MiCA regulations appeared first on Tech Funding News.