Bloom offers students and young professionals in East Africa US Dollar banking. By buying USD and saving in USD or digital dollars, they won't be subject to the volatility of their home currencies.
Hey 👋 Product Hunt!
A big thank you to @gustaf for hunting our product.
I’m Abdigani Diriye from Bloom, and my co-founders Ahmed Ismail, Khalid Keenan and Youcef Oudjidane want to tell you about how we’re offering students and young professionals in East Africa US Dollar banking to help them weather the volatility of their home currencies, and to be able to save and protect their wealth.
💥 Problem
East Africa is home to 500 million people and the economies are growing at ~6 - 8%. Nonetheless, East African currencies depreciate 15 - 20% per annum on average - this is the biggest impediment to wealth protection and creation for East Africans.
🛠️ What Bloom does
Bloom is a digital banking app that offers East African consumers access to high-yield savings in stable currencies and spend-as-they-need local currencies for daily expenditure to protect their hard-earned cash from inflation.
🎯 Motivation
Being from countries with volatile currencies, we have seen family and friends lose large portions of their savings to inflation - this is what fuels our passion about this problem and what motivates us to build at Bloom.
You can join the waitlist here: http://withbloom.com/ and be one of the first users to try our app. We would love to get feedback and get your thoughts! You can email us on founders@withbloom.com or leave a comment.
Thanks!
Abdigani
@adityavsc - thanks for the question, we've been onboarding users since February, and we've been offering new users the chance to win rewards when they refer friends and family via the waitlist.
@gustaf@abdigani can we finally be able to buy cryptocurrencies with this app ? sudan is banned by all major exchanges and verification process is denied because of nationality ! We still have issues due to ofac list despite removal, in many other online services !
Good luck, we hope things get better and this would be the first step towards new sudan
Bloom Landscape Assistant