Bloom
Bloom, formerly known as Contour Labs, is a fintech company based in New York and San Francisco, offering an educational investing app aimed at building long-term wealth, with over 1 million users since its launch in April 2022.
About Bloom
Bloom, formerly known as Contour Labs, is a fintech company located in New York, NY, and San Francisco, CA, specializing in consumer finance. The company launched an investing app in April 2022 designed to teach users how to build wealth through interactive financial lessons, a gamified rewards economy, and access to an investing account. Bloom caters primarily to the U.S. market and operates both remotely and partly remotely.
Y Combinator Backing
Bloom is backed by Y Combinator, having participated in the W21 batch. This association with one of the best startup accelerators demonstrates Bloom's strong foundation and potential for growth in the fintech industry.
User Base and Financial Performance
Since its launch in April 2022, Bloom has amassed over 1 million users and achieved over $3MM in annual recurring revenue. These numbers reflect the company's rapid growth and widespread acceptance in the consumer finance sub-industry within the fintech sector.
Subscription and Services
Bloom offers a subscription service priced at $15 per month, which includes an investing account, financial education, stock rewards, and no hidden fees. The app provides users access to over 5,000 stocks and ETFs, including fractional shares, and allows investing for as little as $1. Specialized custodial accounts are available for individuals aged 13-17, with safety controls enabling parents to approve or deny transactions and set various restrictions.
Educational Modules
Bloom features over 200 interactive learning modules aimed at teaching teens the basics of stocks, investing, and finance. This educational aspect aligns with the company's goal to build long-term wealth and financial literacy among younger generations.
Media Coverage
Bloom has received positive media coverage from renowned publications such as Forbes, Fast Company, and Barron's. These endorsements highlight the app’s innovative approach to financial education and investing.