Bridge, a Citi-backed AI-powered lending platform, has launched a $500m (£368.2m) direct lending fund for US retail suppliers.

The fund targets consumer packaged goods brands and retail suppliers in the US. It will help these players scale their businesses and keep products moving through the supply chain.

Bridge spun out of global bank Citi in 2023 and has since deployed more than $800m to businesses, including DogSauce, a pet food ‘super broth’ meal topper that is now sold in Walmart, the firm said.

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Bridge provides “affordable capital” to retailers using AI-powered underwriting infrastructure. It funds up to 100 per cent of a brand’s production costs based on expected or confirmed orders. The underwriting is built around how major retailers buy, while repayments are structured around when brands receive payment, according to the firm.

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“Bridge supports growing brands when they actually need it, when they are building the inventory to fill an upcoming order,” said Harte Thompson, co-founder and chief operating officer of Bridge.

“That’s the moment capital is hardest to find, and when it’s not there, good brands get pushed into expensive, opaque financing or dilutive equity raises just to fund routine production. Bridge was built for that moment instead.”

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