Bambu scoops $10 million Series B

Source: Bambu

Bambu, a Singapore-based leading global provider of digital wealth technology, today announced the closure of US$10 million in a Series B funding round.

Third-time investor Franklin Templ​eton co-led the​ investment along with new investor  PEAK6 Strategic Capital LLC, which is headquartered in Chicago.    

With the fresh funding, Bambu can take on new opportunities and reach a wider B2B audience  through scalable software-as-a-service solutions. In the past three years, Bambu has established  product market fit as a robo-advisor technology provider to more than 15 financial institutions  globally. Bambu plans 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.    

Ned Phillips, CEO and founder of Bambu, remarked, “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.”    

“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.”, Harshendu Bindal, Managing  Director, Head of Digital Strategy and Wealth Management at Franklin Templeton commented.    

We are excited to partner with Bambu,” said 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.”    

The team has grown over the last three years to 70 employees. The company has expanded to  have offices in Singapore, London, Hong Kong and representatives in San Francisco, and  Johannesburg, with clients in the USA, Europe, UAE and across Asia. 

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