Press Release

[Press Release] Bambu Raises USD 10 Million in Series B Funding

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.

Bambu-team-2019

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.

About Bambu

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: 

Laura Pereira
Marketing Manager (Singapore)
laura@bambu.life

Nick Wakefield
Managing Director (Europe)
nick@bambu.life

Robo-advisor platform Bambu announces strategic investment led by Franklin Templeton and Wavemaker.

Bambu_team

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.

About Wavemaker

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).

About Bambu

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.

Press contact: Laura Pereira Marketing Manager laura@bambu.life

 

Bambu won Best Early Startup Stage Award at Fintech Finals 2017

Photocredit: Next Money

Photocredit: Next Money

Singapore based fintech startup Bambu was the winner of the Best Early Stage Startup Award at Fintech Finals 2017 in Hong Kong last month. The award is presented to winners with business robustness, transformative innovation, responsive customer experience, financial forecasts and overall presentation.

Over 200 applications were submitted, 100 start-ups competed in semi-finals and Bambu made it to top 24. The finalists flew in to pitch their ideas and transformation methods for the winning title via a 6-minute pitch to judges and live audiences. Ned Phillips, Founder and CEO of Bambu, delivered the winning pitch among 13 other firms competing for that category.

Bambu, established in February 2016, is a B2B Robo Advisor offering digital wealth services to all companies, financial and consumer brands, looking to tap into the rapid change of financial technology. Based in Singapore, Bambu markets their services Asia-wide.

"FinTech is in an incredibly exciting growth stage right now with many firms competing to build a successful business. To be recognised as a stand out firm in such an environment is a great motivator to keep us building on the journey we are on. A massive thanks to Next Money, Visa and all the start ups that entered for making the FinTech Finals the great success it was.” said Ned Phillips, founder and CEO of Bambu.

Ayannah won the overall title, Best in Show, while DarcMatter won for Best Growth Stage and BIMA for Best Mature Stage. Fintech Finals is Asia’s biggest Fintech conference and showcase, organized by Next Money and sponsored by VISA.

Bambu welcomes Aki Ranin as Chief Operating Officer

[Press Release]

Bambu today announced that Aki Ranin will join Bambu as Chief Operating Officer. He will report to Ned Phillips, Bambu's Founder and CEO.

Mr. Ranin is a recognized authority in Fintech and an accomplished technology executive with a highly technical background and more than 15 years of technology experience. In his previous role as Commercial Director for Tigerspike, he focused on growing the financial services business across Southeast Asia. In this role, Mr. Ranin also established the partnership of Tigerspike and Bambu, whereby Tigerspike has incubated Bambu as a startup within the Tigerspike offices. Through this partnership, Tigerspike has served as an extension of Bambu staff, and delivered key front-end components to the Bambu platform in cooperation with other Bambu partners Amazon Web Services and Finantix.

"Through joining Bambu I will boost the team's ability to capture the overwhelming demand and momentum we are seeing in the Asian wealth market for Robo-Advisors. The B2B platform offered by Bambu allows both financial institutions and non-financial players to offer savings and investment products to their users across a multitude of channels. Through the partnership with Tigerspike and Bambu, I have already established a great collaborative relationship with Ned and team, and couldn't be more energized by this unique opportunity to change the Asian wealth landscape. My initial focus at Bambu will be to work closely with Ned on business development and key partnerships such as Thomson Reuters to deliver and execute on the market demand. I'm joining a great team and look forward to supporting Ned and the investors towards the upcoming Series A round," says Mr. Ranin.

About Aki Ranin
Aki Ranin joined Tigerspike in 2014 as Commercial Director for Southeast Asia based in Singapore. In this role, he drove the growth of Tigerspike's business in the region, with a focus on financial services in Singapore, Malaysia, and Hong Kong. His key clients include DBS Bank, Standard Chartered, and Manulife. Mr. Ranin also managed key partnerships including Apple, Amazon Web Services, Salesforce and Thomson Reuters. Previously, he was Vice President of Technology at Avaus, where he ran operations and P&L for a team of 50 designers and software engineers. A technology industry veteran and former software developer, Mr. Ranin has over 15 years experience across multiple industries including Manufacturing, Industrial Automation, Retail, Media, Telco and Financial Services. Mr. Ranin graduated with a Master of Science in Computer Science from Aalto University.

About Bambu
Bambu is a Singapore based company started by Ned Phillips. Bambu is a B2B platform that all firms can implement into their current business to enable them to offer Robo Advisory to their clients.

Media contact:
Ned Phillips
Email: ned@bambu.life
Tel: +65 91279034
Website: www.bambu.life