Robo advisor secures $3m Series A funding
A supplier of robo-advisor technology has completed a $3 million series A funding round.
The round into Singapore-based Bambu was led by Franklin Templeton Investments, with Octava and Japanese investor Mamoru Taniya also getting involved. The new funds will be used to expand into new markets and grow the start-up's global presence.
It’s been a big year for Bambu, which helps businesses make financial decisions as part of their digital transformation, having also signed clients in North and South America.
It has also opened an office in Kuala Lumpur and also in London, at Europe’s largest FinTech accelerator Level39.
"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 US markets," said Bambu CEO and founder Ned Phillips.
"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."