B2B Robo-Advisor Bambu Secures Series A Fundingby Company Announcement July 11, 2018
Bambu, aglobal provider of robo-advisory technology, announced it has completed a USD 3 million Series A funding led by Franklin Templeton Investments, with Singapore family office Octava and prominent Japanese Fintech investor Mamoru Taniya also joining the round.
The year 2018 has already become a marquee year for the two-year-old startup, signing clients in both North and South America as well as across Asia, and newly opened offices in London and Kuala Lumpur. Bambu also continues its commitment to its proprietary A.I. research and solutions, with further hires and completion of the team’s first research publication.
Bambu CEO and founder Ned Phillips said in a statement,
“We are incredibly grateful for the support of all our existing and new investors and customers in helping us to build a leading global robo-advisory technology company. Early this year we already surpassed the growth targets we had set for 2018, with seven new clients preparing to go live between the Asian and U.S. markets.
This proves our B2B business model is working, as there is real global scalability without large capital requirements. Our next ambitious goal is to get a million end users on the platform by 2019.”
Harshendu Bindal, Managing Director, Head of Retail at Franklin Templeton Investments commented,
“Since our initial investment in 2017, the Bambu team has shown its ability to drive constant innovation in the digital wealth management space. This makes Bambu a great long-term partner for us, and we are excited to continue our support of the team and their global expansion efforts.”
Bambu has recently grown to a team of 33 members, mostly based in their Singapore headquarters, and with offices in Malaysia, Hong Kong and London.
Featured image via www.bambu.life