Bambu, a developer of digital wealth management solutions, has acquired fellow technology developer Tradesocio, doubling its employee count to 130.
This acquisition will strengthen Bambu’s international expansion efforts and give it presence in all major financial hubs as well as expanded digital wealth capabilities for stock trading and cryptocurrencies.
Tradesocio, which has offices in Singapore, India and Dubai, offers investment management and trading technologies. Financial institutions can implement its robo-advisor, investor trading and mirror trading tools to offer clients digital services.
The acquisition will enable Bambu ti increase its own robo advisor offering and grow its presence in the EMEA region and India.
Bambu CEO Ned Phillips 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.”
The WealthTech company stated there will be more acquisitions in the future to support its expansion.
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