Bambu wins strategic investment from Franklin Templeton
Singapore-based B2B robo-advisor Bambu has completed a funding round, writes David Penn at Finovate (Banking Technology’s sister company). It featured a strategic investment from Franklin Templeton Investments and venture capital funding from Wavemaker Partners, part of the Draper Venture Network.
Also participating in the round was fintech and global robo-advisor investor and advocate, Robby Hilkowitz.
“Bambu is now a growth stage company in the rapidly changing world of digital wealth,” says Bambu’s CEO and co-founder, Ned Phillips. The company will use the new capital to speed business development and sales efforts, as well as bolster research and development, he adds.
Although the amount of this week’s investment was not made public, TechinAsia reports that the company’s total funding is more than $1 million, including a $400,000 seed round in the spring of 2016.
Bambu’s strategy as a robo-advisory platform is to de-commoditise the industry by offering solutions that are tailored to specific markets. The company offers an Intelligent Advisor solution that is geared toward private banks and wealth managers working with high net worth clients. Bambu also has a white-label, robo-advisory platform for affluent and retail investors that enables banks and asset managers to offer clients the ability to build personalised, goal-based portfolios.
Wavemaker Partners managing partner Paul Santos credits the experience of Bambu co-founders (Aki Ranin and the aforementioned Phillips) in support of the firm’s investment. Praising the pair’s “deep domain expertise building scalable, sustainable businesses”, Santos adds: “Ned and Aki have gone from strength to strength to find customers that love their product and have built up a promising pipeline”.
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