Digital wealth technology provider Bambu has acquired wealthtech company Tradesocio for an undisclosed sum.
Tradesocio has 65 employees across offices in Singapore, India and Dubai, and specialises in investment management and trading technologies.
After the deal, Bambu will have a “presence in all major financial hubs and expanded digital wealth capabilities covering stock trading and cryptocurrencies”.
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”, Bambu said.
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 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 it eyes “acquiring more companies that strengthen their product mix and global reach to impact the digital wealth industry”.