A Fintech Platform from Braight

In 2022, a fintech platform Braight Technologies was recognized in the Spotlight competition as the most innovative technology startup in Central and Eastern Europe. It took place at the How to Web conference in Bucharest. The Polish startup received €0.5 million as a prize. However, it was more important that investment funds became interested in it. Eventually, in mid-2023, it was bought by Kings Entertainment. It is a Canadian company listed on the Toronto Stock Exchange.

Maciej Jarząb, the 29-year-old co-founder and CEO of Braight Technologies, came up with the company’s idea while studying economics in Warsaw. At the time, financial institutions using traditional credit risk assessment models did not see young or contractless people like him. Banks lacked a tool with which such people could be reliably assessed for credit risk. He developed AI-based technology that analyzes consumer behavior online with his partner, Marcin Bierut. Based on these, it predicts whether a person will repay a loan on time.

ePeer: a fintech platform that connects investors with borrowers

Maciej Jarząb presented how ePeer, which was then established, would work with Arab investors during Startupbootcamp FinTech Dubai in December 2019. It was recognized as one of the 20 breakthrough ideas that will change finance in the future. And significantly impact the credit services market. Participation in the Dubai conference significantly accelerated negotiations with Polish funds. ePeer raised the first $0,25M from the Polish investment fund EVIG Alfa. It enabled the company to develop and implement the idea in its platform, connecting investors and borrowers. The rapidly growing business was first joined by Taras Pylypiuk, a Business Angel from Ukraine responsible for ePeer Ukraine. Then, Lighthouse Ventures, a Czech investment fund, invested $1,2 million in the company.

The ePeer algorithm became famous in the financial community after the first results of the working system were presented. Based on behavioral data of Internet users, the AI assessed the payment reliability of borrowers at almost 100%. Several intriguing correlations were also spotted between work activity and late payments.

Braight: behavioral scoring

Such good results of the algorithm’s performance encouraged Maciej Jarzeb to spin off the behavioral scoring technology from his portfolio in 2022 under Braight Technologies and end the lending business at ePeer. The first year was unsuccessful, as the company had $1.3 million in revenue with a net loss of $0.3 million. Even then, however, the new company’s expansion into Europe, Latin America, and North America began. Currently, its clients include 3 of the 5 largest banks in Poland and large institutions in Mexico and Spain.


Meanwhile, from Canada comes Kings Entertainment, which decided to buy the Polish company in mid-2023. Kings Entertainment is an international online service provider operating since 2005. It specializes in running lotteries, casinos, and sports betting. It is also the parent company of renowned online gaming brands such as “LottoKings” and “WinTrillions.” He decided to invest in learning about Braight’s technology service offering for these two flagship projects. It will want to use it to speed up the user verification process for its lotto and gaming platforms. On the day of announcing Braight’s intention to acquire Braight, Kings Entertainment’s stock price rose 30%.

The Canadian company will seek to raise about $20 million from the share issue. Maciej Jarząb will continue to lead the company. And create a holding of AI-related companies in the new structures. It is because he had half of the company’s shares before the acquisition, which gave him a good negotiating position.

Horaizon Labs

In addition Jarząb obtained a large amount of capital, which will allow him to invest in several new projects. One is Horaizon Labs, which was ceremonially launched in Lisbon on November 15, 2023. It is the first venture builder in Central and Eastern Europe, which is expected to support 50 AI-related startups financially and operationally over five years.

Here read about Frost, a Polish fintech in the UK.

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