A Singapore-based robo adviser has won the backing of a U.S. based investment manager. The firm wants to have 1 million users on its platform by next year.
Robo adviser platform Bambu clinched $3 million in funding from Franklin Templeton, family office Octava, and investor Mamoru Taniy, the company said in a media statement.
«Our next ambitious goal is to get a million end users on the platform by 2019,» Bambu CEO and founder Ned Phillips said. The fintech expects as many as seven clients, including financial institutions and tech firms, to go live by the end of this year.
Standard Chartered initiated a proof of concept project with Bambu nearly two years ago. The company counts 33 employees, mostly based in its Singapore headquarters. Bambu also operates out of offices in Malaysia, Hong Kong and London.
