Bloom raised 300 million pounds in a funding round led by Credo Capital Partners and Fortress Investment Group.
Led by James Hickson, former head of Fintech Enterprise of Morgan Stanley and former FinTech investment advisor at Credo Capital Partners, Bloom specializes in providing capital to growing businesses that operate primarily online.
Startup was founded during the pandemic in Luxembourg, Bloom’s product is based on a flexible pricing and growth model that combines the best features of a revolving credit product, charging customers only for what they use, always with transparency of costs and fixed charges.
“We’re not just another revenue company,” says Hickson. “We estimate that those involved in e-commerce have had excessive charges of 125 to 200 million pounds based on the current pricing regime. These amounts could be used for more inventories, increased advertising spend or incentives for customers. We have seen an opportunity to innovate rather than simply join the herd. That’s how we did it.”