Brite Payments has declared the appointment of Luke Trayfoot as its new Chief Commercial Officer (CCO). Trayfoot, whose distinguished career includes stints at PayPal and MangoPay, will bring an abundance of expertise to the leadership ensemble at Brite Payments.
As CCO, Trayfoot will head Brite's commercial initiatives, concentrating on facilitating revenue growth and implementing market expansion strategies. His strategic foresight and leadership will serve to further cement Brite's standing as market leaders, while his proven record in advancing revenue growth renders him the ideal candidate to propel Brite's expansion plans.
Trayfoot joining the firm represents a significant juncture in the narrative of Brite - a pivotal step as they initiate a fresh stage of broadening their reach across Europe. In light of a successful £60 million funding round last year, and it being one of the largest fundraisers by a female founder in 2023, Brite is gearing up for a banner year. This appointment reflects the unwavering commitment of the real-time payment provider to consolidate its commercial outfit.
There has been an escalating demand for alternative transaction methods across Europe, as shown through the recent research conducted jointly by Brite Payments and YouGov. It appears to be the perfect juncture for Luke Trayfoot to join the team at Brite.
Brite Payments has made public that Luke Trayfoot has joined their ranks as the Chief Commercial Officer, where he will spearhead the commercial efforts of the Stockholm-based fintech firm. This symbolises a new chapter in Brite's journey as they ramp up their expansion in markets across Europe. The company specialises in real-time bank-to-bank payments, and leverages European open banking infrastructure to develop a comprehensive Pay by Bank solution, fortified by Brite's proprietary Instant Payments Network.
Last year, Brite managed to secure $60 million in funding, attracting new investors such as Dawn Capital and Headline. The capital infusion is being channelled towards technological development as well as strengthening its commercial team via local and sector-specific expertise. As the CCO of the second-generation fintech firm, Trayfoot will champion these causes for Brite.
Trayfoot has previously worked for Mangopay, providing payment infrastructure solutions to marketplaces, where he supervised the international expansion efforts and helmed strategic initiatives for growth, as the Chief Revenue Officer. Prior to that, he had served as Director of Strategic Platforms & Marketplaces EMEA at PayPal, successfully overseeing the post-acquisition integration of Hyperwallet. In his career of over a decade in financial services and payments, Trayfoot has been responsible for driving revenue growth and assembling high-performing commercial teams.
According to recent research by Brite Payments and YouGov, 73% of those surveyed indicated some level of familiarity with the Pay by Bank method, with usage being the highest among younger demographics. This emphasises the rising demand for alternative payment methods across Europe. Brite's survey data also implies consumers' openness to experimenting with new payment methods, prioritising those that are quick, secure, and convenient online.