FOR IMMEDIATE RELEASE
July 31 2019
Bambu Raises US$10 Million in Series B Funding.
New funding to accelerate the company's geographical expansion and scalability of technology.
Singapore, July 31, 2019 – Bambu (www.bambu.life), a Singapore-based leading global provider of digital wealth technology, today announced the closure of US$10 million in a Series B funding round. Third-time investor Franklin Templeton co-led the investment along with new investor PEAK6 Strategic Capital LLC, which is headquartered in Chicago.
With the fresh funding, Bambu can take on new opportunities and reach a wider B2B audience through scalable software-as-a-service solutions. In the past three years, Bambu has established product market fit as a robo-advisor technology provider to more than 15 financial institutions globally. Bambu plans 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.
Ned Phillips, CEO and founder of Bambu, remarked, “We are committed to working with a global client base to digitize saving and investing so it’s easier and more accessible to investors everywhere. We welcome PEAK6 together with the continued support from Franklin Templeton, in this round. 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.”
“As the future of digital wealth grows exponentially, we are delighted to be part of a scalable company that has shown potential in delivering results. We are pleased to support continuously their business growth and partnership in 2019 and beyond,” Harshendu Bindal, Managing Director, Head of Digital Strategy and Wealth Management at Franklin Templeton commented.
“We are excited to partner with Bambu,” said Jenny Just, Co-Founder of PEAK6. “Through our subsidiary Apex Clearing, which has a complementary solution suite in custody and clearing services, we know the digital wealth space well and believe that the team at Bambu is building a tech solution that will continue to empower the next generation of investors and improve overall financial wellness in the markets that we serve.”
The team has grown over the last three years to 70 employees. The company has expanded to have offices in Singapore, London, Hong Kong and representatives in San Francisco, and Johannesburg, with clients in the USA, Europe, UAE and across Asia.
Bambu is a leading global provider of digital wealth technology for businesses of every size and industry, from finance to commercial or even new disruptors, transforming the digital wealth market. We enable companies to make saving and investing simple and intelligent for their clients. The cloud-based platform is powered by our proprietary algorithms and machine learning tools. Visit http://www.bambu.life/ for more information.
About Franklin Templeton
Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization operating as Franklin Templeton. Franklin Templeton’s goal is to deliver better outcomes by providing 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, alternatives and custom multi-asset solutions. The company’s more than 600 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With employees in over 30 countries, the California-based company has more than 70 years of investment experience and over $715 billion in assets under management as of June 30, 2019. For more information, please visit www.franklinresources.com.
About PEAK6 Strategic Capital LLC
PEAK6 is Chicago-based private investment and technology firm that invests in a diverse group of public and private companies, with multiple investments in the fintech industry, including Apex Clearing, Robinhood, Trizic and MoneyLion. Founded in 1997 by Jenny Just and Matt Hulsizer, the firm invests across various stages of a company's development from growth to later stages.
PEAK6 takes a long-term and flexible approach to investing by building relationships with entrepreneurs and management teams to align interests, transform businesses and create lasting value. To learn more about PEAK6, please visit: www.PEAK6.com.
For more information, please contact:
Marketing Manager (Singapore)
Managing Director (Europe)