Company Description:
Blossom offers retail access to returns from fixed income bonds.
Why did you start the business? : When lending rates started falling in 2020 in response to the pandemic, the interest paid on my savings accounts was less than one percent.
I(Gabby) was working hard, and I was saving, but all I was witnessing was my deposits getting silently eaten away by inflation, taxes and fees.
I didn’t have the time or skillset to do a deep dive on various companies and investment opportunities (those that were available to me). I wanted to earn a consistent return, and wanted to find an investment product suited to my lower risk appetite.
I set out to solve two problems – the first was to reduce the burden of inflation and fees on my savings, and the other was to democratise access to an asset class that was typically reserved for institutions and corporates. That is, fixed income investments. Fixed income investing has typically been difficult to access by ordinary savers due to high minimum deposits, long lock-up periods and expensive fees.
So, Blossom was born to help others like myself access returns from fixed income investments with no minimum investment and other flexible features like we’re used to and have come to expect!
Year founded : 2020, launched to market 7th June 2021
Founders/CEO: Gabrielle Rosenberg, Co-founder
Location: Sydney
Size of Team: 4
Website: www.blossomapp.com
Current Investors: N/A
Recent Milestone 🎉: $22m in FUM, 6,000 customers