Singapore fintech firm Bambu acquires investment management platform

Bambu, a fintech firm based in Singapore, said it acquired Tradesocio, an investment management software provider with 65 employees and with offices in Singapore, India, and Dubai.

The move brings Bambu’s headcount to 130 people and extends its reach into Europe, Africa, India, and the Middle East.

Bambu runs a cloud-based wealth management platform for financial institutions that helps clients save and invest with a robo-advisor solution.

Tradesocio also operates its own financial management platform that covers stocks and cryptocurrencies, among other products. These trading features will be added to Bambu’s offerings following the acquisition.

After five years of building solid foundations, Bambu is now entering a phase of rapid growth,” Bambu CEO Ned Philips said. “We believe this positions us well for our series C and ambitions of becoming the global leader in wealth tech.

In 2019, Bambu raised US$10 million in a series B round co-led by Franklin Templeton and Peak6 Strategic Capital.

Bambu is also eyeing other acquisitions to accelerate its global growth, the company said in a statement.