The acquisition of Tradesocio will extend Bambu's digital wealth capabilities, doubling the number of employees to 130 and further accelerating global expansion
SINGAPORE, July 13, 2021 /PRNewswire/ -- Bambu is pleased to announce the acquisition of Tradesocio, a WealthTech company with 65 employees, specialising in investment management and trading technologies with offices in Singapore, India, and Dubai. This acquisition significantly strengthens the combined business' competitiveness globally. Bambu will have a presence in all major financial hubs and expanded digital wealth capabilities covering stock trading and cryptocurrencies.
Through the acquisition, Tradesocio brings years of experience delivering and operating high-volume trading platforms across various asset classes. The acquisition puts Bambu in a unique position that will provide customers greater agency through broader system capabilities that go beyond the offerings of existing robo advisor platforms. In addition, Tradesocio's presence across EMEA and India, along with an existing portfolio of clients, is set to further Bambu's reach in a rapidly expanding and evolving global digital wealth market.
Ned Phillips, CEO 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."
This is unlikely to be Bambu's last acquisition as they foresee acquiring more companies that strengthen their product mix and global reach to impact the digital wealth industry.
Bambu is a leading global digital wealth technology provider for financial institutions. We enable companies to make saving and investing simple and intelligent for their clients. The cloud-based platform is powered by our proprietary algorithms and machine learning tools. The company serves over 20 financial institutions globally. Founded in 2016, Bambu is headquartered in Singapore with a subsidiary in the United Kingdom and the United States and EMEA representatives. For more information, visit https://bambu.co/ and follow us on LinkedIn and Twitter.
Tradesocio provides Digital Technology that helps Financial Investment institutions manage, offer and access secure and profitable financial services. We allow financial institutions to attract a wider clientele, ranging from the retail to the high-net-worth institutional investor, and offer them access to a variety of financial services, bringing equal opportunities to the world. We offer tailored digital investment management solutions to the wider investment management community that are reducing costs and increasing revenue potential.
We provide the complete end-to-end financial management solution, from development, hosting and maintenance, to security and post-sales technical support.