Blossom offers a mobile-first savings and investment platform that provides accessible capital growth opportunities beyond traditional bank accounts. It features two distinct products, Blossom Save for flexible, daily compounded returns and Blossom Plus for longer-term goals with higher targeted returns, all with no account fees.
Funding
Funding not disclosed
Founders
Product
Problem
Individuals and businesses often struggle to find accessible and rewarding ways to grow their savings beyond traditional, low-interest bank accounts. The complexity and high entry barriers of traditional investment vehicles can deter everyday savers from capitalising on market opportunities.
Solution
Blossom provides a mobile-first savings and investment platform designed to make capital growth accessible and rewarding. The platform offers multiple account types, including options for individuals, joint accounts, businesses, and Self-Managed Super Funds (SMSFs), catering to diverse financial needs. Users can choose between two primary investment products: Blossom Save, offering flexibility with daily compounded returns and easy access to funds, and Blossom Plus, designed for longer-term goals with higher targeted returns compounded quarterly. The platform emphasizes a fee-free structure, aiming to maximize user returns by eliminating sign-up, withdrawal, and transfer fees.
Target Audience
The platform targets everyday Australians, including individuals, couples, businesses, and SMSF trustees, seeking accessible and higher-yield savings and investment opportunities beyond traditional banking products.
Features
- Mobile application for iOS and Android enabling account management and fund transfers.
- Two distinct investment products: Blossom Save (flexible, daily compounding returns, low minimum) and Blossom Plus (higher quarterly compounding returns, higher minimum).
- Account options for Individuals, Joint Accounts, Business, Self-Managed Super Funds (SMSFs), and Children's accounts.
- Targeted annual returns of 5.20% p.a. for Blossom Save and 6.25% p.a. for Blossom Plus.
- Daily compounding of earnings for Blossom Save and quarterly compounding for Blossom Plus.
- No account fees, sign-up fees, transfer fees, or withdrawal fees.
- Minimum investment of $5 for Blossom Save and $5,000 for Blossom Plus.
- First withdrawal up to $5,000 processed instantly for Blossom Save; subsequent withdrawals processed on business days.
- Quarterly withdrawals for Blossom Plus.
- Investment portfolio composed of cash, semi-government and government bonds, and mortgage-backed securities.
- Adherence to NIST cybersecurity standards with data encryption and multi-factor authentication for account protection.
- Commitment to ESG (Environmental, Social, and Governance) principles, including exclusions for thermal coal producers and tobacco, and active planting of trees with initial funding and referrals.