Aussie crypto investing app Bamboo to enter US market, releases crypto podcast
An Aussie-owned micro-investment app plans to launch in the United States next year, and has also begun a new podcast to discuss the basics of cryptocurrencies.
Perth-based Bamboo is funding the US launch through a recent $4 million Series A funding round.
Investors included Australian crypto hedge fund Orthogonal Trading; Mountain Ash Investment Management; fund manager VP Capital; and other family offices and social influencers.
Bamboo says it now has $11 million in Bitcoin, Ethereum and precious metals under management, up from $9 million in August.
Bamboo CEO Blake Cassidy says while there are other crypto apps in the United States, the company sees a gap in the market for their simple, accessible app that focuses on micro-savings.
“Our app enables investors who are new to digital currencies to harness techniques like rounding and dollar-cost-averaging to build their investment and secure their financial future,” he said.
“At a time when savings accounts just aren’t providing meaningful returns to customers and extortionate property prices mean real estate is no longer the go-to investment option for the average person, Bamboo is introducing people to an alternative, easy and secure source of financial growth.”
Podcast hosts Cassidy, chief operating officer Tracey Plowman and head of growth Craig Jackson aim to make crypto accessible and digestible for those who might find it daunting or intimidating.
The series is Equity Mates’ seventh podcast, but their first official foray into the world of crypto.
The media company, which aims to make investment markets more accessible to a younger audience, recently closed a $1.2 million seed funding round.
“Crypto is an exciting space, but if you don’t have a knowledgeable guide, you can end up lost,” said co-founder Alec Renehan.
“For years, we’ve been fascinated by the story unfolding and have been looking for a trusted voice to help guide us and our community through this world.
“It is clear that crypto is here to stay, so we felt now was the right time to help Australians understand it.”