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Bridgement – breaking down barriers to access SME funding

Article provided by Bridgement

Daniel Goldberg, an accomplished FinTech founder with experience in the banking, lending and compliance sectors is the founder of Bridgement – a FinTech startup offering business funding to SMEs across South Africa. Bridgement is currently the quickest and simplest way to access working capital online.

Bridgement was started with a single goal – to use technology and data science to bring a new approach to traditional business funding, while minimising the complexity and costs associated with it. Bridgement is improving financial inclusion and breaking down barriers to access SME funding with revolutionary credit scoring models that use thousands of data points to assess the financial health of small businesses across South Africa – all in a matter of seconds.

As an engineer, Daniel is passionate about running his business that leverages technology and data science to build better products and ultimately democratise finance for SMEs.

One of the biggest things he’s learnt throughout his business journey is that there’s no such thing as an overnight success. He explains that what we see of entrepreneurs in the press is only the tip of the iceberg and that we seldom get to see the sleepless nights and painstaking work that goes on behind the scenes.

Daniel does what he does because he loves seeing how the funding FinTech grants, helps SMEs grow, employ more staff and manage cash flow during tough times – all of which are especially meaningful in South Africa’s current economic climate. He is constantly in awe of the impact Bridgement has on the lives of their clients and all of their staff. They have heard countless stories from business owners of how the funding they provide has helped pay salaries and avoid retrenchments, during the early stages of the COVID lockdown.

Daniel believes that growing the South African economy and driving employment have never been more important. He says that small businesses will play a critical role in helping our economy and employment levels to recover. But unfortunately small businesses have been the hardest hit during lockdown and have struggled to remain afloat. Small businesses continue to be overlooked by traditional financial institutions, and supply chain bullying has only exacerbated with large corporates taking longer to pay their small business, putting massive strain on their cash flow. Small businesses need all the support they can get – access to funding needs to be simplified, invoices need to be paid quicker and the ease of doing business needs to be improved.

Bridgement was selected as one of the Top 20 Winners at the 2020 South African Small Business Awards.

Bridgement is a proud Member of the NSBC