Singapore, 30 August 2017 - Bambu, a leading B2B robo-advisor platform provider, announces it has completed a funding round led by three new investors. Franklin Templeton Investments, a global leader in asset management, becomes the first strategic investor in Bambu. Wavemaker Partners, one of Singapore’s leading venture capitalists and part of the Draper Venture Network, brings the first venture capital funding for Bambu. They are joined in the round by renowned FinTech investor Robby Hilkowitz, an early advocate of, and investor in robo-advisors globally.
Ned Phillips, Founder and CEO of Bambu, said; “We are delighted to have both strategic and venture capitalist investors in our latest round of funding, as further validation of our B2B business model. Bambu is now a growth stage company in the rapidly changing world of digital wealth, and to gain support from leading industry players brings great momentum towards our goal of becoming the market leader in this space.”
Building on this progress, Bambu will use the new investment to accelerate its sales and business development capability to meet the increasing demand for robo-advisor solutions globally, while further strengthening the company’s R&D in Singapore.
Harshendu Bindal, Managing Director, Head of Retail (International) at Franklin Templeton Investments, said; “Our investment in Bambu stems from Franklin Templeton’s interest in advancing emerging technologies in the FinTech space that fit with our focus on being innovative in the ways we serve our clients.”
Paul Santos, the Managing Partner at Wavemaker Partners, said; “We like to invest in founders with deep domain expertise building scalable, sustainable businesses. Ned and Aki have gone from strength to strength to find customers that love their product and have built up a promising pipeline. We look forward to working with them.”
Founded in February 2016, Bambu has created cutting-edge technology solutions to have launched Singapore’s first robo-advisory platform. Over the past year, Bambu has gained significant traction within the wealth management industry through innovations in goal-based planning and artificial intelligence.
Terms of the funding round are not disclosed.
About Franklin Templeton
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 $752 billion in assets under management as of July 31, 2017. For more information, please visit www.franklinresources.com.
Wavemaker Partners is an early-stage venture capital firm established in 2003 with offices in Los Angeles and Singapore. Its founders are entrepreneurs who’ve built and exited businesses themselves. US-based investments include MindBody (NASDAQ: MB), DigitalGlobe (NYSE: DGI) and StyleHaul (acquired by RTL). Singapore-based investments include Luxola (acquired by LVMH), ArtofClick (acquired by Xurpas) and Pie (acquired by Google). Wavemaker is the Southern California and Southeast Asia representative of the Draper Venture Network (DVN).
Bambu is a B2B robo-advisor software firm offering financial and non-financial businesses the ability to benefit from the ongoing digital transformation in wealth management. The company was founded by financial and technology industry players, Ned Phillips and Aki Ranin in February 2016.
Bambu makes saving and investing simple, and intelligent. Its White Label solution automates the process of financial planning, saving and investing for consumers, on desktop and mobile. Bambu launched Singapore's first robo-advisor in November 2016 and works with leading financial institutions around the world.
For more information, please visit www.bambu.life.