FinTech news in bloom category

Bloom’s seed round is the largest in Sudan, a country whose tech ecosystem can be termed passive and only recently welcomed foreign investment when Fawry backed fintech and e-commerce player Alsoug after 30 years of international sanctions on the country.

startup platform Bloom has now secured a £300 million / $377 million financing round led by Credo Capital and Fortress Investment Group LLC (NYSE:FIG), making it one of the better-funded revenue-based lending businesses in Europe.

Upon carefully studying different models pioneered by digital-first banks such as TymeBank, Kuda and FairMoney, they saw a big gap for building a savings product that helps solve what they think is the biggest problem facing African consumers: inflation and currency devaluation.