Bambu acquires Tradesocio to expand footprint and add stocks and cryptos

Rick Steves

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.

Read this next

Digital Assets

Crypto trading volume spikes at Swiss bourse amid FTX collapse

The shockwaves from the historic collapse of Sam Bankman-Fried’s crypto empire are still being felt across the industry, but some trading venues are actually doing better because of it.

Executive Moves

CMC Markets adds Camilla Boldracchi to institutional sales

UK’s biggest spread better, CMC Markets has promoted Camilla Boldracchi to take on an expanded role within its institutional sales desk.

Institutional FX

FXSpotStream reports $1.48 trillion in monthly volume for November

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for November 2022, which moved higher on a yearly basis but reflected weak performance across executed trade volumes when weighed against the figures of the prior month.

Retail FX

Interactive Brokers’ client activity drops 30% YoY

Interactive Brokers LLC (NASDAQ:IBKR) saw 1.95 million daily average revenue trades, or DARTS, in November 2022 compared to 1.96 million transactions in the prior month.

Digital Assets

The rise of Crypto ETPs in traditional exchanges as crypto winter deepens

Institutional investors are increasingly looking at traditional regulated exchanges as their first route into digital assets amid market turmoil caused by the crypto winter and the collapse of several big names within the space, including FTX. Acuiti and Eurex surveyed 191 buy and sell-side firms on their views of the digital assets markets in order […]

Digital Assets

TP ICAP’s crypto arm receives FCA’s go-ahead

UK interdealer broker TP ICAP has received a regulatory go-ahead to launch its cryptocurrency services in the UK. The bid shows that the recent collapse of FTX exchange has done little to damp the interest of big names in running their own crypto business.

Industry News

Coin Signals founder to pay $2,847,743 after prison sentence over crypto Ponzi scam

The U. S. District Court for the Southern District of New York has ordered Jeremy Spence, founder of Coin Signals, to pay $2,847,743 in restitution to victims of a fraudulent virtual currency scheme.

Digital Assets

CME Group goes DeFi: Reference rates and real-time indices of Aave, Curve, Synthetix

“These rates are designed to provide traders, institutions and other users transparency and price discovery across a much broader range of tokens, allowing them to confidently and more accurately value cryptocurrency sector specific portfolios and manage price risk around various blockchain-based projects.”

Digital Assets

BingX publishes Proof-of-Reserve report by auditor Mazars to address general distrust in crypto

“It is our responsibility to help our customers know their platform and feel safe. They should only trade in regulated and licensed exchanges or one showing them proof when they need it.”

<