Robo-Advisor Platform Bambu Completes Funding Round Led by Franklin Templeton, Others
It looks like Asia’s leading robo-advisor platform provider is set to become bigger
Bambu, the popular Singapore-based robo-advisor solutions startup, announced that it has completed a funding round led by three new investors: asset management giant Franklin Templeton, noted Singaporean venture firm Wavemaker Partners, and prominent fintech investor Robby Hilkowitz. Wavemaker here brings in the company’s first-ever venture funding.
Founded in early 2016, Bambu is one of the pioneers of Asia’s robo-advisor industry – it launched Singapore’s first robo-advisor platform – and it’s probably its most diversified, too; aside from providing solutions to private banks and other wealth managers, it also provides wealth services to retail, e-commerce, and telco firms.
Where will this new round of funding go? Bambu says it will use the new investment to ramp its sales and business development capabilities to match the increasing demand for its solutions, globally. That’s not entirely it though; it aims to do so while further bolstering its R&D.
Here’s what Ned Phillips, Bambu’s founder and CEO, had to say about his company’s new investors:
“We are delighted to have both strategic and venture capitalist investors in our latest round of funding, as further validation of our B2B business model. Bambu is now a growth stage company in the rapidly changing world of digital wealth, and to gain support from leading industry players brings great momentum towards our goal of becoming the market leader in this space.”
And here’s what Paul Santos, managing partner at Wavemaker Partners, had to say:
“We like to invest in founders with deep domain expertise building scalable, sustainable businesses. Ned and Aki have gone from strength to strength to find customers that love their product and have built up a promising pipeline. We look forward to working with them.”