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- This Week in Fintech
Happy Friday!
Welcome to the third instalment of This Week in Fintech. Thanks for subscribing 🙌
The low down ⏱️
Betashares launches a new investment platform - Direct, NRMA launches home loans in partnership with Tic:Toc and Bendigo Bank, Blossom reaches $40m under management, Zeller launches Virtual Terminal and BPAY support on transaction accounts, Apple Pay Later exits beta, Revolut launches EEA Stocks for EU customers + much more!
This week in Australia 🇦🇺
Blossom reaches $40m under management
Blossom this week has hit another massive milestone of $40m funds under management. The platform now has over 12,000+ members and they have posted $2m + in earnings!
Whats Blossom?
Blossom isn’t a savings account but instead invests in things like corporate bonds, government bonds, foreign exchange and derivatives, asset backed securities, mortgage backed securities, and more. Traditionally, these types of investments have been reserved for hedge funds, financial institutions, superannuation funds, and high net-worth individuals.
Blossom offers personal investors, businesses and SMSF holders an easy app with no fees, minimums and easy deposits and withdrawals all with a rate of 5.7% (earnings posted and compounded daily!)