Singapore-based robo-advisor Bambu has received seed capital. Tigerspike and angel investors from Singapore funded the round.
The total funding of $400,000 will be used to developing robo-advisors, that offer automated, low-cost, investment advisory services through web-based and/or mobile platforms, and leasing its tools to companies.
Currently, Bambu has three separate robo-advisory products targeted at savings, investments, and private banking. Having commenced operations earlier in February 2016, it has secured two corporate clients including media and information
Significant Potential for Growth
Bambu CEO and founder Ned Philipps (pictured above) said to the media, his company has generated an estimated $300,000 in revenue since commencing operation for its first two clients, with significant potential for growth.
Philipps was formerly the Asian managing director of E*Trade Financial Corporation, which in June launched a robo-advisor service coupled with an investment team.
