Bridgewise, an Israeli startup that uses artificial intelligence to provide investment research for global securities, has raised $21 million in funding, as the finance industry expands its adoption of the technology.
TakeAway Points:
- Bridgewise, the cutting-edge AI-based research platform for international securities, has raised $35 million in total capital after completing a $21 million investment round.
- Global financial organisations such as SIX Group, Group 11, L4VB, and others invest in AI platforms that revolutionise the availability of insights and data on international stocks and funds.
- The money will help expand Bridgewise’s in-house AI technology and hasten the company’s global presence.
Bridgewise Raises Funds for AI Research
Leading the round was SIX Group, with participation from L4 Venture Builder, Group 11, and other international financial institutions. Bridgewise selected investors for this investment round from prestigious finance firms who can serve as strategic partners in important areas. November 2023 saw the opening of its Asia Pacific headquarters in Singapore, where Kelvin Phua, a fintech veteran and former executive of PayPal and PPRO, was appointed as the region’s general manager.
“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, said.
In order to create customised solutions for clients throughout Asia Pacific, including markets like Hong Kong, India, Japan, and Singapore, the Singapore office will act as a strategic centre. Since then, Bridgewise has acquired 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.
“I’m thrilled to see Bridgewise taking this next step in their journey. The team has a clear vision and is 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, said.
Bridgewise is a quickly expanding company that offers AI-driven investment research to financial media & education platforms, banks, trading platforms, wealth advisors, exchanges, and investment houses. More than 15 countries, including Australia, Brazil, Japan, Singapore, Switzerland, UAE, UK, US, and more, are currently home to the company’s activities and clientele. It plans to accelerate growth and market penetration with the additional cash.
“This is a major milestone in 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, said.
Bridgewise platform
The Bridgewise platform delivers a range of products designed to meet the requirements of top financial institutions and service providers. These consist of comprehensive AI-generated reports and on-demand analysis of any financial instrument or asset, Bridget, an AI conversational chat that speaks natural language, a robo adviser that makes tailored recommendations depending on a user’s current portfolio, and more.
Over 90% of listed worldwide securities, including stocks and mutual funds, are the subject of fundamental data analysis by Bridgewise. In addition, it offers investment recommendations—a special, regulated feature that has previously received approval in the markets where it works.
Bridegewise’s Technology Foundation
The foundation of Bridgewise’s technology is twofold. The first is a machine learning algorithm that analyses over 50,000 listed securities and assigns a performance score to each one. It was trained on over 20 years of historical data. Based on a proprietary Micro Language Model (MLM), the second essential technology is a generative AI that generates reports for each security that are easy to comprehend and can be read in the reader’s selected language.
“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 said.
