South African Fintech Bridgement Secures USD 20.3 M Funding For AI SME Lending

Bridgement, a South Africa-based fintech lender founded in 2016 by Daniel Goldberg, has secured ZAR 330 M (USD 20.3 M) in funding from Rand Merchant Bank (RMB) and Standard Bank to expand AI-powered lending to small and medium-sized enterprises (SMEs).

The company uses proprietary technology to analyse live financial data from bank accounts and accounting platforms to make real-time credit decisions, enabling faster access to financing without relying heavily on collateral.

Since its launch, Bridgement has disbursed more than ZAR 2 B (~USD 123 M) in business loans to South African SMEs. The new funding will grow its loan book and support plans to license its AI-driven lending technology to banks and corporates, helping address South Africa’s persistent SME financing gap.