Bambu acquires Tradesocio to expand footprint and add stocks and cryptos
The firm expects to add more companies to its group in order to strengthen their product mix and global reach to impact the digital wealth industry.
Bambu has acquired Tradesocio, the WealthTech company specialized in investment management and trading technologies in order to expand its digital wealth capabilities covering stock trading and cryptocurrencies.
Bambu will now have a presence in all major financial hubs as it enters the markets where Tradesocio is already established, with offices in Singapore, India, and Dubai, also acquiring the existing portfolio of clients.
Tradesocio delivers and operates high-volume trading platforms across various asset classes, thus offering Bambu greater agency through broader system capabilities that go beyond the offerings of existing robo advisor platforms.
Ned Phillips, Chief Executive Officer of Bambu, said: “After five years of building solid foundations, Bambu is now entering a phase of rapid growth. This deal helps us in three key areas: it expands our product offering into stocks and crypto, it gives us a wider global footprint and enables us to scale our team effectively to match exponential demand. We believe this positions us well for our Series C and ambitions of becoming the global leader in WealthTech.”
Bambu has plans to expand further through mergers and acquisitions. The firm expects to add more companies to its group in order to strengthen their product mix and global reach to impact the digital wealth industry.
The firm was founded in 2016 in Singapore and has subsidiaries in the United Kingdom and the United States and EMEA representatives.
The cloud-based platform is powered by proprietary algorithms and machine learning tools and caters digital wealth technology to more than 20 financial institutions globally.
Tradesocio has made a name for itself throughout the years with its tailored digital investment management solutions to the wider investment management community and end-to-end financial management solutions, from development, hosting and maintenance, to security and post-sales technical support.
Bambu is preparing for a Series C funding round to help the business expand further across the globe. In 2019, the firm raised US$10 million in a Series B round led by Franklin Templeton and PEAK6 Strategic Capital.
The fundraiser intended to take on new opportunities and reach a wider B2B audience through scalable software-as-a-service solutions.