Bridgement raises R330 million ($20 million) backed by RMB and Standard Bank

Bridgement, a South African online lender to small businesses, has raised R330 million, with Rand Merchant Bank (RMB) and Standard Bank backing the company. Zawya, citing Bizcommunity, reported on 8 July. The headline puts the figure at $20 million, while the article text gives only the rand amount. The round was not named.

What Bridgement does

The company runs an AI-powered platform that looks at a business's bank account, accounting software such as Xero and Sage, and other digital financial data to make funding decisions within minutes. Borrowers can repay daily, weekly, bi-monthly or monthly. Bridgement also licenses its technology to banks and corporates.

Track record

Bridgement says it has funded thousands of small businesses since launching about a decade ago and has deployed more than R2 billion to them. It lends up to R10 million with repayment terms of up to 24 months. It was named Xero App Partner of the Year in 2023 and 2025, and is described as the only SME lender in South Africa integrated across Xero, Sage and QuickBooks.

Plans

RMB is an existing funding partner. The new money will be used to expand direct lending and strengthen Bridgement's position as a leading online business lender in South Africa. "SMEs don't need more paperwork. They need faster access to capital," said founder and CEO Daniel Goldberg.

At a glance

• Company: Bridgement
• Raised: R330 million (about $20 million per the headline)
• Backers: RMB (existing funding partner), Standard Bank
• Founded: About a decade ago
• Markets: South Africa
• Key figure: More than R2 billion deployed to SMEs