Bambu, a B2B robo-advisor, has collected $10m in a Series B round to support the expansion of its product offering.
Franklin Templeton has made its third investment into the company and co-led the series with PEAK6 Strategic Capital.
Capital from the round is being used for new opportunities and to reach a wider audience by targeting new segments within financial services. It is also looking to set up delivery and support teams in key global markets.
The digital platform helps a business supply their customers automated and technology-augmented investment services. Its private banking service aims to improve the operations of relationship managers. Its ranking algorithm gives a unified view of the market and recommends relevant investment ideas for client portfolios.
Bambu also offers a robo-advisor solution which gives investors an easy way of identifying suitable investment strategies for their needs. The tool can be used to build a personalised portfolio and risk profile for every life goal.
Franklin Templeton managing director Harshendu Bindal said, “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.”
The company’s former round of funding round was a $3m Series A which closed last year. Franklin Templeton Investments led the round, with Octava and Mamoru Taniya also contributing.
Last year, Bambu teamed up with financial services API developer DriveWealth to establish an end-to-end solution to support a consumer’s investment portfolio.
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