SINGAPORE - Media OutReach - 12 July 2018 - Bambu, a leading global provider of robo-advisory technology, today announced it has completed a USD 3 million Series A funding led by Franklin Templeton Investments, with Singapore family office Octava and prominent Japanese Fintech investor Mamoru Taniya also joining the round.
The year 2018 has already become a marquee year for the two-year-old startup, signing clients in both North and South America as well as across Asia, and newly opened offices in London and Kuala Lumpur. Bambu also continues its commitment to its proprietary A.I. research and solutions, with further hires and completion of the team's first research publication.
"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," Bambu CEO and founder Ned Phillips said in a statement.
"Since our initial investment in 2017, the Bambu team has shown its ability to drive constant innovation 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," Harshendu Bindal, Managing Director, Head of Retail at Franklin Templeton Investments, commented.
Bambu has recently grown to a team of 33 members, mostly based in their Singapore headquarters, and with offices in Malaysia, Hong Kong and London.
Bambu is a leading global provider of robo-advisory technology for businesses of every size and industry, from finance to commercial or even new disruptors, transforming the digital wealth market. We enable companies to make saving and investing simple and intelligent for their clients. The cloud-based platform is powered by our proprietary algorithms and machine learning tools.
Founded in 2016 by industry experts Ned Phillips and Aki Ranin, Bambu is situated in Singapore with subsidiaries in Hong Kong, Malaysia and the United Kingdom, as well as representatives in Middle East, Africa and the Americas.
For more information, please visit www.bambu.life.
ABOUT FRANKLIN TEMPLETON INVESTMENTS
Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management to retail, institutional and sovereign wealth clients in over 170 countries. Through specialized teams, the company has expertise across all asset classes--including equity, fixed income, alternative and custom solutions. The company's more than 650 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in more than 30 countries, the California-based company has 70 years of investment experience and over $724 billion in assets under management as of June 30, 2018.
For more information, please visit www.franklinresources.com