Bridgewise, an innovative AI-based analysis platform for global securities, has successfully completed a new funding round, securing $21m to fuel its expansion strategies.
This latest financial injection brings the total capital raised by the company to $35m. The funding round was spearheaded by SIX Group, with significant contributions from Group11, L4 Venture Builder, and other prominent global financial institutions. Bridgewise selected these investors for their strategic geographical positions and expertise, which align with the company’s growth objectives.
The company offers a sophisticated suite of products designed specifically for exchanges, banks, trading platforms, investment houses, wealth advisors, and financial media & education platforms. Bridgewise utilises cutting-edge AI technology to provide comprehensive investment analysis and detailed reports on over 90% of listed global securities, including stocks and mutual funds.
The newly acquired funds are earmarked for several critical areas of development. Primarily, Bridgewise intends to accelerate its market penetration and expand its presence globally. The funds will also support the enhancement of its AI technologies and the scaling of operations across its various markets. This includes the development of tailored solutions that cater specifically to the needs of customers in the Asia Pacific region, where Bridgewise has recently established its headquarters in Singapore.
Additional insights into the company’s strategic moves include the recent opening of its Tokyo office and the acquisition of the Japan Stock Exchange as a key customer. These steps are part of Bridgewise’s broader strategy to strengthen its foothold in Asia, particularly in burgeoning markets like Hong Kong, India, and Japan.
Bridgewise CEO Gaby Diamant expressed the company’s ambitions, stating, “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.”
Bridgewise’s core technology is built upon two main pillars: a machine learning algorithm that has been trained on over two decades of historical data to analyse and score thousands of securities, and a proprietary Micro Language Model (MLM) that generates accessible reports for each security in multiple languages.
Keep up with all the latest FinTech news here.
Copyright © 2024 FinTech Global
