SIX Group, Group 11, and L4VB and other global financial institutions invest in AI platform transforming access to insights and information on global stocks and funds. The funding will further accelerate the expansion of Bridgewise’s global presence and support the development of its proprietary AI technology.
SINGAPORE and LONDON, April 16, 2024 /PRNewswire/ — Bridgewise, the innovative AI-based analysis platform for global securities, has announced the completion of a $21 million funding round, bringing its total capital raised to $35 million. The round was led by SIX Group with participation from Group11, and 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. Its 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 to develop tailored solutions for customers across Asia Pacific, including markets such as Hong Kong, India, Japan and Singapore. Since then, Bridgewise has acquired 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.
Kelvin Phua, Asia Pacific General Manager, Bridgewise
Bridgewise is a rapidly growing provider of AI-driven investment analysis serving exchanges, banks, trading platforms, investment houses, wealth advisors, and financial media & education platforms. The company currently has clients and operations in over 15 countries including Australia, Brazil, Japan, Singapore, Switzerland, UAE, UK, US, and more. It will use the new funding to accelerate market penetration and growth.
Gaby Diamant, Co-founder and CEO 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."
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, 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 over 90% of listed global securities, including stocks, and mutual funds. It also provides investment recommendations, a unique and regulated feature that has already been 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 more than 20 years of historical data that analyzes 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.
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."
About Bridgewise:
Bridgewise is a global financial research technology company that powers the investment decisions of institutional and retail investors in more than 22 languages and across 15 countries, including over 50 institutional clients. Its proprietary generative AI-based technology platform has delivered over 10 million analyses, which provides comprehensive insights into global stocks and securities.
Founded in 2019, Bridgewise aims to bridge the knowledge gap in the investment world and democratize access to financial market information, providing easy to understand, comprehensive equity research that was previously exclusively available only to major financial institutions.
Its unbiased analysis, scoring and research can be seamlessly integrated into brokerage platforms and other financial institutions’ infrastructures, offering instant analysis of global stocks alongside bespoke investment strategies, enabling informed investment decisions to investors of all types, worldwide.
More about Bridgewise can be found here.
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