Singaporean robo-advisor Bambu announced the acquisition of Tradesocio, a wealthtech firm specialising in investment management and trading technologies with offices in Singapore, India, and Dubai.
The firm said that this acquisition significantly strengthens the combined businesses’ competitiveness globally.
Through the acquisition, Tradesocio brings years of experience delivering and operating high-volume trading platforms across various asset classes.
Bambu will have a presence in major financial hubs as Tradesocio has an existing portfolio of clients across EMEA and India.
Additionally, Bambu said that this move will enable it to expand its digital wealth capabilities covering stock trading and cryptocurrencies.
The acquisition puts Bambu in a unique position that will provide customers greater agency through broader system capabilities that go beyond the offerings of existing robo advisor platforms.
According to Bambu, this is unlikely to be its last acquisition as it foresees acquiring more companies that strengthens its product mix and global reach to impact the digital wealth industry.
In 2019, the company secured an investment of US$10 million during a Series B funding round to accelerate its geographical expansion and scalability of technology.
Ned Phillips
Ned Phillips, CEO of Bambu, said,
“After five years of building solid foundations, Bambu is now entering a phase of rapid growth. We believe this positions us well for our Series C and ambitions of becoming the global leader in wealthtech.”
Featured image: Bambu Team
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