ePayment tech startup Bridge raises GBP2.5m growth fund from Gloag Investments
Payment orchestration platform, Bridge, has received an additional GBP2.5 million from Gloag Investment Group to scale up its growing presence in the UK eCommerce and ePayments space and continue advancement of its technology innovation.
The health pandemic has accelerated adoption of online purchasing and amplified consumer expectations and demands around ease and reliability of online transactions. For many retailers, eCommerce has been promoted to a primary channel, which makes a strong, resilient online payment structure even more critical than ever to capture every possible transaction opportunity.
Bridge unlocks the potential for online payments to be a competitive differentiator, using intelligent routing to put consumers and merchants back in control. Crucially, it also means that, should a payment processor experience an outage, there is no need for transactions to be missed, as the payment simply and automatically switches to an alternative provider. Bridge provides the resilient and flexible payment structure that merchants need to be able to innovate swiftly, and make payments work for their bottom line.
Brian Coburn, Bridge CEO, says: “eCommerce has been tested to the limits during the pandemic when businesses have been forced to pivot and innovate to find new ways of engaging customers all the way through to the end of a purchase. Consumers expectations are high, and retailers are challenged by an increasingly complex and rapidly evolving payments space.
“With a single integration, Bridge puts control back in the hands of the merchant so that they can offer the speed, convenience, personalisation and trust that customers want from online retail.
“We are very fortunate to have been backed this far by Dame Ann and her team, who share our vision for payment orchestration; and this additional investment of GBP2.5 million provides Bridge with a meaningful runway to further develop our technology.”
The additional GBP2.5 million funding for Bridge from Gloag Investments is part of the Group’s portfolio of innovative technology company investments.
Dame Ann Gloag, Founder & Director, Gloag Investment Group, adds: “The management team we have assembled has taken the business onto a new level. The Bridge team’s insight into the challenges merchants increasingly face is impressive and the solution is groundbreaking.
“At Gloag Investments, we work with individuals with big ambitions and a clear plan to address an industry challenge. Brian and the team have already established the potential for revolutionising the payments space and have attracted a keen interest from blue chip clients. We look forward to continuing to invest in the growth journey.”