With new businesses coming up every other day and competition to build a colossal customer base is soaring, financial advisors need digital tools to help their company grow at a faster pace. Digital wealth management is a model which is being adopted by most businesses, be it of any size, to sustain in this overwhelmingly growing corporate world.
Achieving this digital transformation is essential and challenging as well as the financial services industry is slow in terms of embracing and adapting to “data-driven-by-technology” transformations. However, on a good note, wealth management firms have started learning that leveraging technology for their client services will give them an edge over their non-tech-savvy counterparts.
Offerings Of Bambu
Bambu is a Singapore-based digital wealth technology services provider which was founded in 2016 by CEOs Ned Phillips and Aki Ranin. The startup is situated in Singapore with subsidiaries in Hong Kong, Malaysia, and the United Kingdom, as well as representatives in the Middle East, Africa and the Americas. Their clients are from businesses of every size and industry, from finance to commercial, and even new disruptors. It has a cloud-based SaaS( Software as a Service) platform which operates on its proprietary algorithms and certain machine learning tools. Some of their robo-advisor solutions include Intelligent Advisor, White-Label Robo, Portfolio Builder and API Library.
Corporate Outreach Of Bambu
Bambu claims to have established itself as a leading robo-advisor technology provider globally to more than 15 financial institutions globally. With 70 employees, Bambu has expanded to have offices in London and Hong Kong, besides Singapore. It also has representatives in San Francisco and Johannesburg, with clients in the US, Europe, the UAE and across Asia. It develops digital wealth management platforms to enable its client companies to simplify saving and investing becomes for their clients. Bambu aims to digitise the financial services to give the clients a premium customer experience.
Firms Backing The Startup
Bambu received US$3 million in Series A funding led by Franklin Templeton Investments, with participation from Singapore’s family office Octava and prominent Japanese Fintech investor Mamoru Taniya. Back in 2016, it raised US$400,000 from in funding from unnamed angels and mobile tech company Tigerspike in 2016.
The SaaS startup recently closed US$10 million in a Series B round of funding, co-led by third-time investor Franklin Templeton, along with new investor Chicago-based PEAK6 Strategic Capital. It aims to expand its reach to a wider B2B and will use these funds to build up delivery and support teams in leading global markets. This robo-advisor tech giant is planning to create more impeccable digital wealth solutions and strive to achieve new levels.
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