Singapore start-up Bambu acquires investment and trading wealthtech Tradesocio
Singapore-based digital wealth technology provider Bambu has acquired Tradesocio as it looks to boost its global expansion plans.
Tradesocio has offices in Singapore, India, and Dubai
Founded in 2015, Tradesocio offers investment management and trading technologies for financial institutions. The company has offices in Singapore, India, and Dubai.
Bambu plans to tap into Tradesocio’s presence across EMEA and India and its portfolio of existing clients to accelerate its expansion into these markets.
Bambu’s software-as-a-service (SaaS) solutions enable companies to digitise savings and investing for their clients. The company claims to serve over 20 financial institutions globally.
The firm says the acquisition will help it grow its digital wealth capabilities to cover stock trading and cryptocurrencies as well as double its number of employees to 130.
Ned Phillips, CEO of Bambu, says: “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.”
Bambu adds that the deal is “unlikely” to be its last and it can “foresee acquiring more companies” to further extend its global reach.
The company is also plotting an upcoming Series C funding round following its $10 million Series B in 2019.
