Bloom Analysis: $1M Raised
What is Bloom?
Bloom is an investing app aimed at teaching teens and their parents about financial literacy and investing. Its mission is to empower young individuals with the knowledge and tools necessary to make informed financial decisions. Key services offered by Bloom include educational modules on financial concepts and the ability to invest in stocks and ETFs, all while incorporating parental controls to ensure a safe learning environment.
Employees
8
Founded
2020
Industry
Investment
Revenue
$3MM
Business Model
Subscription model at $15/month for financial education and investing services.
Funding Amount
$4.4 million
Industry Type
Investment
Latest Funding Round Size
$4.4 million
Product Features & Capabilities
- Investing app for building long-term wealth, fractional shares, 5,000+ stocks & ETFs, custodial accounts for ages 13-17, 350+ interactive lessons crafted by Ivy League professors, 120+ gamified lessons, earn stock rewards for learning, average user earns $6/month, 24/7 access, real-time monitoring,
Use Cases
Teens learn investing basics through interactive lessons; Parents approve or deny trades made by teens; Users earn stock rewards for completing educational modules; Teens invest with as little as $1; Users participate in games and tournaments for additional rewards
Pricing
- All for $15 / month.
- Investing Account
- Financial Education
- Stock Rewards
- No Hidden Fees
How much Bloom raised
1 - $1.1 million
March 14, 2022Lead Investor: Various undisclosed investors
Who are the founders of Bloom
SY
Sam Yang
Founder
Key Products
Bloom offers an investing app designed primarily for teens aged 13-17, focusing on financial literacy and investing. Key products and services include:
- Fractional Shares: Invest in over 5,000 stocks and ETFs.
- Custodial Accounts: Designed for teens with parental oversight.
- Educational Content: Over 350 interactive lessons created by Ivy League professors, with significant engagement metrics (20 million lessons passed and 3 million quizzes answered).
- Gamified Learning: Users can earn stock rewards for completing educational tasks, with an average earning of $6 per month.
- Safety Controls for Parents: Parents can approve trades, set restrictions, and manage risk levels for their teens.
- Subscription Model: Services are available for $15 per month, with no hidden fees.
Competitors
The main competitors of Bloom in the fintech space, particularly focusing on financial literacy and investing for teens, include:
- Greenlight - An app that provides a debit card for kids and teens, along with financial education tools and investment options.
- Copper - A platform that allows teens to invest in stocks and learn about financial management.
- Blossom - A social investing app designed for young investors, focusing on education and community engagement.
- Stash - An investing app that simplifies the investment process for beginners, including teens, with educational resources.
- E*TRADE - While primarily a brokerage, it offers educational resources and tools suitable for young investors.
These companies provide similar services aimed at educating and enabling teens to invest responsibly.
Market Focus
Bloom primarily focuses on the financial technology (fintech) industry, specifically in the area of financial literacy and investment education for teens and their parents.
Competitors Overview
Bloom's main competitors in the financial literacy and investing app market for teens include:
- Greenlight: This app combines banking and investing, allowing parents to set spending limits and control investments. It offers a debit card for kids and educational resources, making it a comprehe
Investors
- Global Founders Capital
- Visa
- Contrary
- Slow Ventures
- Offline
- 6 other unnamed investors
Other Considerations
1M+ investors using the app; 20M+ lessons passed; Backed by Y Combinator; SIPC insured accounts; 24/7 access with bank-grade security
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