BUSINESS NEWS - South African fintech company Bridgement has secured R330 million in funding from RMB (Rand Merchant Bank) and Standard Bank to expand its online business lending platform for small and medium-sized enterprises (SMEs).
The investment, backed by two of South Africa's largest banking groups, will enable Bridgement to scale its lending operations and provide faster access to finance for businesses across the country.
RMB has been a funding partner to Bridgement for several years, while the latest investment from both banks reflects growing confidence in technology-driven lending solutions.
Closing South Africa's SME funding gap
Despite SMEs contributing around 40% of South Africa's gross domestic product (GDP) and employing approximately 60% of the country's workforce, the sector faces an estimated funding gap of between R350 billion and R386 billion.
Traditional lending models often rely on audited financial statements, collateral and predictable cash flows, making it difficult for many businesses to qualify for finance.
Many SMEs lack up-to-date financial records, fixed assets or consistent monthly income, limiting their access to conventional business loans.
AI delivers funding decisions in minutes
Bridgement uses artificial intelligence and real-time financial data to assess loan applications, replacing lengthy paperwork and reducing dependence on traditional collateral.
Its technology analyses information from bank accounts and cloud accounting platforms such as Xero, Sage and QuickBooks, creating a real-time view of a business's financial health.
By evaluating thousands of financial and operational data points, the platform can assess risk, detect fraud and make lending decisions within minutes of receiving an application.
The system also offers flexible repayment options, allowing businesses to repay loans daily, weekly, bi-monthly or monthly, depending on their cash flow.
More than R2 billion already provided to SMEs
Since launching in 2016, Bridgement has deployed more than R2 billion in funding to thousands of South African SMEs through business loans, revolving credit facilities and invoice finance.
The company offers funding of up to R10 million with repayment terms of up to 24 months.
In addition to lending directly to businesses, Bridgement licenses its technology to banks and corporate partners, enabling them to offer AI-powered lending solutions to their SME clients.
The fintech has also been recognised for its innovation, winning Xero App Partner of the Year in both 2023 and 2025.
Investment to drive further growth
Bridgement founder and CEO Daniel Goldberg said the latest funding would allow the company to extend its reach to even more South African businesses.
"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. 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."
Goldberg said SMEs need faster access to capital rather than more paperwork, adding that AI enables quicker decisions and a better customer experience.
RMB Leveraged Finance Lead Transactor Xolela Albert said the bank had seen Bridgement consistently deliver on its vision of improving financial inclusion.
"Bridgement has demonstrated an ability to combine technology, data and credit expertise to deliver funding efficiently and at scale. We are pleased to extend our support through this new funding and look forward to supporting the next phase of the company's growth."
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