Bambu, a well-known leading global provider of digital wealth technology for businesses has secured US$10 million in a series B funding round.
In 2018, Bambu received US$3 million in Series A funding, led by Franklin Templeton Investments, and participation from Singapore’s Octava and Japan’s Mamoru Taniya. Two years prior to the said funding, a US$400,000 was raised from unnamed investors and Tigerspike, a mobile tech company.
The said investment was piloted by a three-time investor, Franklin Templeton and backed as well with the support of its new investor, Peak6 Strategic Capital.
“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,” Managing Director, Head of Digital Strategy and Wealth Management, Harshendu Bindal of Franklin Templeton said.
The company says that it aims “to target new segments within financial services, as well as build up delivery and support teams in key global markets,” Bambu CEO and founder Ned Phillips said. “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” he added.
Bambu has maintained a product-market fit as a Robo-advisor provider for the past three years covering more than 15 financial institutions across the globe.
Managing over 70 employees, the company has expanded its services in Singapore, London, Hong Kong, San Francisco, and Johannesburg.
The availability of the company’s services caters clients in Asia and Europe as well as the US and the United Arab Emirates.
Bambu’s new raised fund will open opportunities in reaching a wider business-to-business market through scalable software-as-a-service solutions.