Brief: Singapore robo-advisory startup bags fresh funding

Photo credit: Bambu.

Bambu is a business-to-business financial robo-advisory software firm based in Singapore. Launched in February 2016, the company’s white label solution automates the process of financial planning, saving, and investing for consumers – on desktop and mobile.

Competitors: Quantifeed, Smartly, 8 Securities, Theo

How it compares to competitors: While most robo-advisors have one product with a specific target customer, Bambu offers three different products: one for savings, one for investments, and one for private banking. It claims its product diversity will allow it to target more potential applications and a larger pool of clients.

Traction

Bambu says it has generated about US$500,000 in revenue. The company, which raised seed funding last year, has also managed to sign up notable business players, including Standard Chartered Bank, Crossbridge Capital, and Thomson Reuters

Funding details

Amount raised: Undisclosed
Funding stage: Undisclosed
Lead investor: Franklin Templeton Investments
Other investors: Wavemaker Partners and Robby Hilkowitz
Investment type: Equity
Purpose: Accelerating global sales and strengthening its R&D in Singapore
Total disclosed funding to date: US$1 million-plus

(Update at 7pm, August 30:  This article was edited to more accurately reflect facts and figures related to Bambu’s clients and total disclosed funding.)