Bridgement, an AI-driven lender, has secured R330 million (US$20.3 million) in funding from Rand Merchant Bank (RMB) and Standard Bank to expand its credit operations. This capital injection will directly grow the fintech company’s loan book and allow it to scale lending operations nationwide. By focusing on rapid distribution, the initiative aims to inject vital liquidity into a sector that heavily drives local employment.
South Africa’s small and medium enterprises (SMEs) face an estimated funding shortfall exceeding R386 billion. This gap persists despite the fact that smaller businesses contribute 40% to the national GDP and provide 60% of overall employment.
“We started Bridgement with a single goal: To use technology and data science to bring a new approach to traditional business funding and to minimise the complexity and costs associated with it,” said the company.
Technology Driving Financial Inclusion
Bridgement uses artificial intelligence and real-time financial data to assess loan applications, replacing lengthy paperwork and reducing dependence on traditional collateral. The platform analyses operational data points from live sources like bank accounts and cloud accounting platforms, including Xero, Sage and QuickBooks. This creates an immediate view of a business’s financial health, allowing the platform to assess risk, detect fraud and make decisions within minutes.
The system offers business loans, revolving credit facilities and invoice finance of up to R10 million, with repayment terms stretching up to 24 months. To support cash flow, it allows flexible repayments on a daily, weekly, bi-monthly or monthly basis.
The efficiency of this model attracted the country’s major financial institutions. “Bridgement has demonstrated an ability to combine technology, data and credit expertise to deliver funding efficiently and at scale,” said Xolela Albert, RMB Leveraged Finance Lead Transactor. “We are pleased to extend our support through this new funding and look forward to supporting the next phase of the company’s growth.”
Expanding Market Reach Through Licensing
Since its launch in 2016, the fintech has deployed more than R2 billion in funding to thousands of South African SMEs. Its innovative approach earned the company the title of Xero App Partner of the Year in both 2023 and 2025.
With the new capital, the company plans to expand beyond direct lending by licensing its proprietary AI technology to banks and corporate partners. This business-to-business model will enable larger financial institutions to offer similar near-instant lending solutions to their own SME clients, multiplying the availability of capital in the market.
“This funding reflects the confidence that two of South Africa’s largest banking groups have placed in our technology, our team and our vision for SME finance,” said Daniel Goldberg, founder and CEO of Bridgement. “We’ve already helped thousands of businesses access over R2 billion in funding, and this backing allows us to extend that impact to even more South African SMEs.”
The ultimate goal remains removing traditional obstacles so local enterprises can take on bigger contracts, expand their operations and manage cash flow cycles smoothly. Goldberg emphasized that what small businesses need most is faster access to capital rather than more paperwork, noting that AI enables quicker decisions and an improved overall customer experience.
