CHICAGO, Jan.10, 2019 /PRNewswire/ -- Bridge, a portfolio management software platform provider for RIAs, fiduciary financial advisors, and wealthtech companies, announced today that it has raised Series A funding led by FINTOP Capital and MissionOG. Existing investor UMB Bank's corporate venture group also participated in the round. The new funds will be used to accelerate growth and ensure the company continues to deliver best in class functionality and customer service.
Bridge provides portfolio accounting and management software with an API-driven, automation-centric approach. The company's Atlas platform provides key functionality to address client billing, invoicing, performance reporting, account aggregation as well as a client portal. Bridge serves advisors and wealthtech companies, with a primary focus on firms serving retail, mass affluent, and high-net-worth clients.
"Advisors' need for back office efficiency has never been greater, but existing solutions remain stagnant and an impediment to manage and grow their client base," said Bridge CEO and co-founder, Rasheed Hammouda. "Atlas delivers a higher level of productivity and efficacy through its automated platform, allowing advisors to focus upon what they do best: grow strong, well supported client relationships. The new capital will help us expand our software and API functionality, and provide outstanding customer service."
"Bridge has been a major asset in the growth of our firm," said Ian Jameson, Director of American Capital Advisory. "Having a partner that is flexible, responsive and scalable means we can focus more on the client facing aspects of our business."
"Over the past three years, Bridge has experienced 10x growth of their advisor client base, establishing the company as the leading next-gen portfolio management platform," said Rick Holton, General Partner, FINTOP Capital. "We were attracted to Bridge's rapid growth, deep roster of clients, and its position as a market leader," he added.
"We are extremely impressed with the Bridge management team," said Andy Newcomb, Managing Partner, MissionOG. "Market and client feedback confirmed that Bridge's offering is best-in-class. We are excited to partner with Bridge to accelerate their recent traction and achieve their goals."
"In order to maximize the value and impact of this round of funding for our clients, we took a great deal of care identifying investors that truly understand our industry, the scope of the opportunity, have true operating experience and ultimately provide more than just capital," said Hammouda. "FINTOP and MissionOG possess this type of domain knowledge and operating expertise and are well aligned with Bridge and our vision."