BridgerPay recently closed an addition to its seed round, led by Nati Harpaz (ex catch.com CEO) and SIBF, raising USD 6 million in equity and secondary. “We used the capital,” said Ran Cohen “to build the world’s first self-onboarding payment operations platform making BridgerPay a full SaaS product, recruit world-class talent, and scale our go-to-market strategy.”
According to Bridgerpay, $156 trillion will cross international borders in 2022, with cross-border transactions worth up to 41% more than local ones. Businesses have the need to enter new markets, automate payment flows, connect multiple payment providers, and generate data-driven insights. BridgerPay allows any business to connect their website to a PCI Level-1 end-to-end payment operations platform with 500+ ready-made connections.
The idea bloomed from Israeli entrepreneur Ran Cohen’s struggles with payment processing in his previous company: “We successfully converted from B2B to B2C and felt the issues of processing cross-border payments first hand” Ran said; he then teamed up with veteran systems architect and payments expert Yaron Hersh to co-found BridgerPay in 2019. For three years the Company grew organically: “Growing organically and bootstrapped was not easy, but we could speak with thousands of merchants and understand their payment challenges. When building a new feature, the core idea is to satisfy the merchants’ needs, not some legacy notion about how payment operations should be; this is why we offer solutions that none of our competitors can.”
With BridgerPay any business can set up in seconds a payment operations platform connected to its website through a ready-made plugin (Magento, WooCommerce, WordPress, PrestaShop, BigCommerce, and more) or a few lines of code. The automated signup complements the platform’s Lego-like interface and makes available to everyone a technology that used to be a prerogative of large enterprises. This includes Bridger Retry™ to save declined card payments; Ran said, “$800 billion in transactions are declined yearly, leading to lost revenue and poor customer experience; what we’ve built in BridgerPay is what’s needed to take payments to the next level, allowing merchants to save up to 30% of declined card transactions.
“BridgerPay is available to everyone, independently of provider, location, platform, payment flows, and business logic. BridgerPay is unified, agnostic, and can help any business to scale faster. We will soon reveal new ways to pay and AI-powered tools that democratize payments data, providing never-seen-before insights based on billions of transactions.”
BridgerPay (HQ in Cyprus with offices in Tel Aviv) is seeing a +300% YoY growth and is opening offices in the US, UAE, and Australia to better serve global clients of all sizes with a local footprint.
About BridgerPay, SIBF said “We see a tremendous demand for a user-friendly platform that centralizes all payments, and are glad that BridgerPay is at the forefront. Their technology is ground-breaking, and their team is uniquely talented and builds values, not just products. We are excited to support such a game-changing vision and approach.”