B2B robo-advisor Bambu has raised $3m in its Series A funding round led by Franklin Templeton Investments.
Capital was also supplied by Singapore-based family office Octava and Japanese investor Mamoru Taniya.
Founded in 2016, the company offers robo-advisor software for financial and non-financial businesses. The platform automates financial planning, saving and investing for consumers through its mobile and desktop app.
Its advisor solution uses ranking algorithms to provide investors with a view of the market and house view, and receive recommendations of relevant investment opportunities. The white-label robo helps to create a personalised risk profile and portfolio based on life goals.
Bambu also provides an API library which offers customers with a hub of independent modules to extend their robo solutions.
The company recently opened new offices in London and Kuala Lumpur, and made further hires to its AI research and solutions teams.
Bambu CEO and founder Ned Phillips said, “Early this year we already surpassed the growth targets we had set for 2018, with seven new clients preparing to go live between the Asian and U.S. markets. This proves our B2B business model is working, as there is real global scalability without large capital requirements. Our next ambitious goal is to get a million end users on the platform by 2019.”
Prior to this round, the company raised an undisclosed investment from Franklin Templeton Investments, Wavemaker Partners and FinTech investor Robby Hilkowitz. The previous investment was used to support sales and business development growth.
The company raised $400,000 in its seed round from a group of angel investors in 2016.
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