Singapore-based digital wealth technology provider Bambu has expanded its global reach with the acquisition of Tradesocio, a fintech specialising in investment management and trading technologies with offices in India and Dubai.
The acquisition gives Bambu a presence in all major financial hubs around the world and expands its digital wealth capabilities into areas such as stock trading and cryptocurrencies.
Ned Phillips, chief executive 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 (deal) positions us well for our ambition of becoming the global leader in wealthtech.”
The company said the Tradesocio deal was unlikely to be Bambu’s last acquisition as it expects to acquire more companies to strengthen its product mix and global reach.
Bambu provides digital wealth technology for financial institutions using a cloud-based platform powered by its proprietary algorithms and machine learning tools.
The company serves more than 20 financial institutions globally. Founded in 2016, Bambu is headquartered in Singapore with subsidiaries in the United Kingdom and the United States, as well as representatives based in the EMEA region.
Tradesocio, with 65 employees, has years of experience delivering and operating high-volume trading platforms across various asset classes. It also offers tailored digital investment management solutions which aim to cut costs and increase revenue potential.