• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Home Fintech

Sudan’s Bloom To Be Drafted For Y Combinator’s Accelerator Program

Bloom is the first Sudanese startup to gain Y Combinator’s endorsement

by
March 9, 2022
in Fintech
Share on FacebookShare on Twitter

The Sudanese Robinhood-like FinTech company dubbed Bloom has gained Y Combinator’s endorsement to accelerate its development past a startup phase. Bloom is built to assist the Sudanese population on how to protect their wealth, saving with a stable currency.

The Sudanese economy is reportedly experienced different levels of devaluation. Bloom comes to the rescue with a digital wallet built as a savings account and foreign exchange features. Bloom pose as a digital bank that allows the Sudanese population to save cash with foreign currencies and spend with their local currency.

Bloom also serves as an investment platform for Africans — the startup FinTech company was built as a replica of existing FinTech startups in Africa, including, Kuda, FairMoney, etc. Bloom is designed to tackle the devaluation of the Sudan pounds as well as tackling economic inflation.

Bloom’s CEO, Ahmed Ismail said “the problem that we think is most pervasive is consumers’ inability to protect the value of their wealth. So we decided to build a business that does exactly that, that helps people save money in the stable currency and spend as they go in local currencies.”

Ismail said he had to study the emerging markets where FinTech startups have contributed to stabilizing their host economy. He also revealed that Bloom is built by a team of professionals such as Khalid Keenan, Abdigani Diriye, and Youcef Oudjidane — they have reportedly worked for other behemoth technology companies including, Amazon, Uber, Meta, IBM, etc.

“We know it has had some economic challenges since then after the secession of South Sudan. Yet, purchasing power and consumer spending is still amongst the highest on the continent per capita. And most importantly, it’s probably Africa’s most under-invested country from a VC funding perspective and the most important dynamic I think about Sudan is it’s a friendly place to do business.”

Bloom compacted with other real-time banks dubbed Export Development Bank to make deposits reflect on its FinTech network. Still, the Sudanese startup FinTech company offers a free account for users to buy foreign exchange and save up local currency, the Sudanese Pounds. The Bloom platform can also make cross border remittances which are also for free

Bloom also got into the Y Combinator’s startup accelerator program drafted for the winter batch of 2022 to compete amongst other African startups such as IdentityPass, Moni, TopShip, and many others. Bloom also closed a pre-seed round that was led by Global Founders Capital last year— a short while after Ismail debuted Bloom in Sudan.

Related Posts:

  • Kuda-bank-Nigeria
    Kuda Unveils New Wallet For Multiple Currencies
  • hacker-5332676_1920-e1629793208829-1200×692
    Pro—Hacktivist Group Warns Nigeria: 5 Positive…
  • Kuda-bank-Nigeria.jpg
    The SBP Issues Kuda Bank FinTech License to Operate…
  • -1x-1 (6)
    The IMF Panics As Zimbabwe Adopts Cryptocurrency
  • 44985-87456-usbc-iphone-xl
    Zywa’s Neobank Company is Set to Expand Across the…
  • 1669722054-Untitleddesign3
    India To Undertake The First Pilot For Retail…
  • Roqqu-approved-in-SA
    Roqqu Has Set Up Cryptocurrency Exchange Operations…
  • lenovo-legion-y520-laptop-with-lenovo-y-gaming-headset-1440×811
    Nigeria's Cross-border Payment Startup Grey Gets $2…

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Tags: BloomfintechFXstartupy combinatorYC W22

BROWSE BY CATEGORIES

Select Category

    Receive top tech news directly in your inbox

    subscription from
    Loading

    Freshly Squeezed

    • Netflix Ranks Fourth in Streaming Customer Satisfaction July 24, 2025
    • PayPal Opens Dublin AI and Fraud Centre, Adds 100 jobs July 24, 2025
    • Meta Ends Threads Bonus Program July 24, 2025
    • French Media Giant Acquires MultiChoice for $3 billion July 24, 2025
    • Loma Bank Launches GoCard for Unbanked Nigerians July 24, 2025
    • IBM Posts Strongest Revenue Growth in Decade on AI Mainframes July 23, 2025

    Browse Archives

    July 2025
    MTWTFSS
     123456
    78910111213
    14151617181920
    21222324252627
    28293031 
    « Jun    

    Quick Links

    • About TechBooky
    • Advertise Here
    • Contact us
    • Submit Article
    • Privacy Policy
    Generic selectors
    Exact matches only
    Search in title
    Search in content
    Post Type Selectors
    • African
    • Artificial Intelligence
    • Gadgets
    • Metaverse
    • Tips
    • About TechBooky
    • Advertise Here
    • Submit Article
    • Contact us

    © 2025 Designed By TechBooky Elite

    Discover more from TechBooky

    Subscribe now to keep reading and get access to the full archive.

    Continue reading

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.