Bambu B2B Robo-advisor Obtains Series A Fund Accelerating Global-Expansion
Bambu, a global leader in offering robo-advisory technology, successfully closes its Series A round with $3 million. Franklin Templeton Investments led the funding round, along with significant contributions from Mamoru Taniya, a Japanese Fintech investor and its Singapore Family Octava. The fresh funds will enable the company to further accelerate its global expansion plans. Till date, Bambu has raised $3.4 million in two funding riounding rounds. Earlier in August 2016, the company had raised $400,000 worth seed funding from BANSEA, a Singapore-based angel investment community.
“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,” says Ned Phillips, Founder & CEO, Bambu. said in a statement.
Founded in 2016 by Ned and Aki Ranin, Bambu is a leading B2B company providing robo-advisory solutions for businesses of every size and industry, right from finance to commercial and even new disruptors, transforming the digital wealth market. The cloud-based platform enables companies to make savings by investing simple intelligence to their clients. The company recently witnessed growth in terms of its team of 33 members who are mostly based in their Singapore headquarter, with offices in Malaysia, Hong Kong and London.
Commenting on their latest investment, Harshendu Bindal, Managing Director & Head – Retail, Franklin Templeton Investments, says, “Since our initial investment in 2017, the Bambu team has shown its ability to drive constant in-novation 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”.
Claiming this year to be a marquee one, the two-year old startup, signed clients in both North and South America and branches across Asia, launching offices in London and Kuala Lumpur as well. Bambu commits its agenda to its proprietary AI research and solutions with further hires and secured a completion of the
team’s first research publication.
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