Singapore based robo advisor solution provider 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. The partes said that 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.
Tradesocio is run by UAE based CEO Wael Salem, formerly a senior executive at Retail FX brokers FXCC, FXCBS, and One Financial Markets. Its clients and partners have included FXCM, Saxo Bank, MetaQuotes, and Interactive Brokers.
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 added that this is unlikely to be its last acquisition, as they foresee acquiring more companies that strengthen their product mix and global reach to impact the digital wealth industry. The company is backed by $20 million in venture capital raises from Franklin Templeton Investments, Singapore family office Octava, and Japanese fintech investor Mamoru Taniya, and is reportedly aiming to raise an additional $25 million in Series B-C financing following the Tradesocio acquisition.
Bambu is a leading global digital wealth technology provider for financial institutions. It enables companies to make saving and investing simple and intelligent for their clients. The cloud-based platform is powered by 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.
Tradesocio provides Digital Technology that helps Financial Investment institutions manage, offer and access secure and profitable financial services. The company’s platforms 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. Tradesocio offers tailored digital investment management solutions to the wider investment management community that are reducing costs and increasing revenue potential. The company’s offerings include a complete end-to-end financial management solution, from development, hosting and maintenance, to security and post-sales technical support.
Bambu CEO Ned Phillips added on social media:
It’s been an amazing journey from day one. But this feels next level. Bambu B2B Robo Advisor has acquired Tradesocio.
We have one simple goal. To be the global leaders in B2B WealthTech. We are relentless in this mission. By adding the 65 + super talented people at TradeSocio and their excellent technology to Bambu it feels we have taken a big step forward.
Huge thanks to all who helped to make this happen and a massive welcome to Wael Salem and his team at TradeSocio to the Bambu family.