Bridgewise secures $21m in new funding

It'll use the money to support the expansion of its AI-powered financial intelligence platform

Bridgewise, the AI-based analysis platform for global securities, has announced the completion of a $21m funding round. This latest round brings its total capital raised to $35m. The round was led by SIX Group with participation from Group11, L4 Venture Builder, and other global financial institutions. For this funding round Bridgewise chose investors from leading finance companies that can act as strategic partners in key regions.

The Bridgewise platform delivers a suite of products tailored for the needs of leading financial institutions and service providers. These include detailed AI generated reports and on-demand analysis of any financial instrument or security, as well as a natural-language AI conversational chat, Bridget™, a robo advisor that provides personal recommendations based on users existing portfolios, and much more.

Bridgewise’s core technology rests on two pillars. The first is a machine learning algorithm trained on more than 20 years of historical data. It analyses more than 50,000 listed securities, providing each one with a performance score. The second core technology is a generative AI based on a proprietary Micro Language Model (MLM) that creates easy to understand reports for each security in the reader’s preferred language.

Gaby Diamant, co-founder and chief executive officer of Bridgewise, said: “This is a major milestone on our mission to close the knowledge and accessibility gap across the global capital markets. Our AI technology is uniquely positioned to provide the trustworthy analysis, recommendations, and support global investors need to make informed decisions. With partners such as SIX, Group 11, and L4VB on board we have the tools we need to deliver significantly upgraded insights across the globe, empowering investors in any language, in any market. This new funding is an opportunity to deliver on our promise to our customers, and our responsibility to the industry as a whole.”

Bjørn Sibbern, global head of exchanges at SIX, said: “Our investment in Bridgewise signifies our commitment to innovation and the future of finance. With AI at its core, Bridgewise equips professional and retail investors with essential tools for informed decisions. This strategic move not only taps into a high-growth market but also enhances our internal expertise. Together, we’re driving innovation and empowering our customers across various geographies and in our home markets to stay competitive.”

Dovi Frances, founding partner at Group 11, said: “I’m thrilled to see Bridgewise taking this next step in their journey. The team has a clear vision and are leading the way for AI in capital markets. I look forward to seeing what 2024 has in store.”

Pedro Meduna, co-founder of L4VB, said: “This new funding round is a testament of our commitment to both Bridgewise and the Brazilian market as a whole. We are confident that the renewal of our partnership will further expand the opportunities for local retail investors in capital markets and investments and continue to amplify Brazilian companies’ visibility and exposure to the world, solidifying Brazil’s positioning as a key market on the global investment landscape.”

AI is coming much more to the fore for fintechs. 70% of financial insitutions say they’re using AI in the fight against fraud and money laundering.

Image: Bridgewise

Robert Welbourn Robert Welbourn is an experienced financial writer. He has worked for a number of high street banks and trading platforms. He's also a published author and freelance writer and editor.