Bridgewise, an AI-based analysis platform for global securities, announced the completion of a $21 million funding round. The company has raised a total of $35 million, including this round.
SIX Group led this funding round, which included participation from Group11, L4 Venture Builder, and other global financial institutions. For this round of funding, Bridgewise chose investors from leading finance companies that can act as strategic partners in key regions.
The company’s Asia Pacific headquarters was recently established in Singapore in November 2023, with the appointment of fintech veteran and ex-PayPal and ex-PPRO executive Kelvin Phua as its Asia Pacific General Manager. The Singapore office will serve as a strategic hub for developing tailored solutions for customers across Asia Pacific, including markets such as Hong Kong, India, Japan, and Singapore. Since then, Bridgewise has attained the Japan Stock Exchange as one of its key Asia-based customers and has recently opened an office in Tokyo to support its growing Japan team.
Bridgewise’s platform offers a suite of products tailored to the needs of leading financial institutions and service providers. And these include detailed AI-generated reports and on-demand analysis of any financial instrument or security, a natural-language AI conversational chat – Bridget, a robo advisor that provides personal recommendations based on users existing portfolios, and more.
Bridgewise analyzes fundamental data on 90%+ of listed global securities, including stocks, and mutual funds. And it also provides investment recommendations, a unique and regulated feature already approved in the markets in which it operates.
Bridgewise’s core technology rests on two pillars. The first is a machine learning algorithm trained on over 20 years of historical data that analyzes over 50,000 listed securities, providing each one with a performance score. The second core technology is 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.
KEY QUOTES:
“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.”
– Gaby Diamant, Co-founder and CEO of Bridgewise
“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.”
– Bjørn Sibbern, Global Head of Exchanges at SIX
“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.”
– Dovi Frances, Founding Partner at Group 11
“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.”
– Pedro Meduna, co-founder of L4VB
