Singapore-Based Robo Advisor Bambu Raises US$400,000 Seed Round
by Fintech News Singapore August 22, 2016Bambu, a Singapore and Hong Kiong based Robo Advisor, has announced that it has closed a seed round of US$400,000. Angel investors from Singapore, as well as Tigerspike, participated.
Bambu is a B2B FinTech business that has created a framework for companies that are looking to improve their digital offering in the savings and wealth space. Since launching in February of this year Bambu has created partnerships with market leading companies such as Tigerspike and Thomson Reuters. Bambu will be delivering product into the market in Q4 this year.
Ned Phillips, the CEO and founder of Bambu, has worked in Asia for the past 25 years. He has been involved in FinTech since 1999 and was previously Managing Director for E*TRADE in Asia. “It’s been a great journey so far in the 5 months since launch,” commented Ned Phillips, “We have built the product, signed customers, billed revenue and now to secure seed funding confirms our belief that Robo Advisory has significant growth potential across Asia and confidence in our product/market fit.” Bambu has created a range of solutions from mass retail, to mass affluent to high net worth. “We see a huge and growing demand for Robo Advisory services from all sectors of the market and we are determined to be the best of breed.”
Ned Phillips, CEO and Founder of Bambu
Luke Janssen, Founder and Executive Chairman of Tigerspike commented, “Having been involved in creating digital solutions for our clients for over 13 years we have deep experience in what resonates and works for our customers and end users. Bambu has quickly cemented itself as one of the innovative players in how savings and wealth should be re-imagined and we see our investment and partnership with Bambu as further commitment to our belief in the growth in FinTech.”
The funding will be used to hire further staff, build out the product and expand into other regional markets.
