Bambu has announced the acquisition of Tradesocio, a WealthTech company with 65 employees, specialising in investment management and trading technologies with offices in Singapore, India, and Dubai.
According to a statement, “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,” the statement added.
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.”
Bambu is a global digital wealth technology provider for financial institutions. 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.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.