BridgerPay launches self-onboarding payments platform
“We used the capital 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.”
BridgerPay has announced the launch of its self-onboarding payments platform after having raised $6 million in a seed round led by Nati Harpaz and Southern Israel Bridging Fund (SIBF).
The idea was launched by Israeli entrepreneur Ran Cohen after his struggles with payment processing in his previous company. 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 and only now it has decided to raise funds.
As businesses have the need to enter new markets, automate payment flows, connect multiple payment providers, and generate data-driven insights, BridgerPay has entered the space to fill the gap in the $156 trillion cross border payments industry.
BridgerPay allows any business to connect their website to a PCI Level-1 end-to-end payment operations platform with 500+ ready-made connections.
Ran Cohen, Founder of BridgerPay, commented: “We successfully converted from B2B to B2C and felt the issues of processing cross-border payments first hand.”
“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”, he continued.
“We used the capital 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.”
BridgerPay is easy to set up
BridgerPay allows any business to 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 platform’s Lego-like interface and Bridger Retry, designed to save declined card payments, are a few of its innovative features. “$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”, said Ran Cohen.
“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.”
The firm is headquartered in Cyprus and has offices in Tel Aviv. The funds raised and the reported +300% YoY growth are driving further expansion, including offices in the US, UAE, and Australia.
A SiBF spokesperson commented: “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.”
