- Singapore-based global provider of digital wealth technology Bambu announced it raised $10 million in Series B funding
Bambu — a Singapore-based global provider of digital wealth technology — announced it closed $10 million in Series B funding. Third-time investor Franklin Templeton co-led the investment along with new investor PEAK6 Strategic Capital LLC.
With this round of funding, Bambu plans to take on new opportunities and reach a wider B2B audience through scalable software-as-a-service solutions.
“We are committed to working with a global client base to digitize saving and investing so it’s easier and more accessible to investors everywhere. We welcome PEAK6 together with the continued support from Franklin Templeton, in this round. This is a strong confirmation that we have built a unique business and platform for the global market. We see growing demand across all markets, and we are increasing our ability to serve clients globally,” said Bambu founder and CEO Ned Phillips.
In the past three years, Bambu has established product-market fit as a robo-advisor technology provider to more than 15 financial institutions globally.
“As the future of digital wealth grows exponentially, we are delighted to be part of a scalable company that has shown potential in delivering results. We are pleased to support continuously their business growth and partnership in 2019 and beyond,” added Harshendu Bindal — Managing Director and Head of Digital Strategy and Wealth Management at Franklin Templeton.
Bambu is planning to expand the product offering to target new segments within financial services as well as build up delivery and support teams in key global markets.
“We are excited to partner with Bambu,” noted Jenny Just — Co-Founder of PEAK6. “Through our subsidiary Apex Clearing, which has a complementary solution suite in custody and clearing services, we know the digital wealth space well and believe that the team at Bambu is building a tech solution that will continue to empower the next generation of investors and improve overall financial wellness in the markets that we serve.”
Bambu has grown to more than 70 employees over the last 3 years. And the company has expanded with offices in Singapore, London, Hong Kong, representatives in San Francisco, and Johannesburg, and clients in the USA, Europe, UAE, and across Asia.
