The startup has raised its largest tranche of funds in a round led by Franklin Templeton and PEAK6 Capital.
Singapore-based digital wealth technology provider Bambu has completed its series B funding round with $10 million raised, led by third-time investor Franklin Templeton and Chicago-based investment firm PEAK6 Strategic Capital, the startup announced on its blog on Wednesday.
This brings the total amount raised by Bambu to $13.4 million. The new funds will be used to expand the product offering to target new segments within financial services, as well as build up delivery and support teams in key global markets.
«This is a strong confirmation that we have built a unique business and platform for the global market. We see growing demand across all markets, and we are increasing our ability to serve clients globally,» Ned Phillips, CEO and founder of Bambu, said in the statement.
Strong Growth
The company provides robo-advisory technology to financial institutions globally using a cloud-based platform powered by its own proprietary algorithms and machine learning tools. Bambu currently services 15 clients in the United States, Europe, United Arab Emirates and across Asia, according to its website.
Since it was founded three years ago, Bambu's team has grown to 70 employees. It has established offices in Singapore, London, Hong Kong and has representatives in San Francisco, and Johannesburg.
