Bloom Finance Company
Latest round
- Series A
Last raised
- May 2023
Total raised
- $5.2M
Investors
- 1
About Bloom Finance Company
Founded in 2019 and based in Ontario, Canada, Bloom Finance Company Ltd. engages in reverse mortgage loans for Canadian seniors. The company was founded by its CEO, Ben McCabe. In May 2023, Bloom Finance Company Ltd. The company's flagship product is the Bloom Reverse Mortgage™, which allows homeowners to access a portion of their home's value, up to 55%, without the need for regular payments. Alternatively, a minimal interest rate is used, and interest is gradually added to the outstanding balance. The remaining payment is due when the final homeowner dies or vacates the property. Bloom ensures homeowners are protected by offering a home equity guarantee, ensuring that the amount owed never exceeds the market value of the property. Homeowners can obtain an estimate by entering some basic data about themselves and their property into Bloom's free calculator. The startup generates revenue by charging its users approximately USD 1,950 in fees, which include the processing cost of USD 1,200, the appraisal fee of USD 450, and the ILA certificate fee of USD 300, all of which are deducted from mortgage earnings.
Who invested in Bloom Finance Company
1 investor across 1 round
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Funding rounds
Series A
May 16, 2023
Amount
$5.2M
Investors
Questions about Bloom Finance Company
Who invested in Bloom Finance Company?
Bloom Finance Company has 1 investor on record across 1 venture round. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has Bloom Finance Company raised?
Bloom Finance Company has raised 1 venture round. Sign up free to see how much each round raised and the total.
When did Bloom Finance Company last raise money?
Bloom Finance Company's most recent round on record is a Series A, in May 2023.
What does Bloom Finance Company do?
Founded in 2019 and based in Ontario, Canada, Bloom Finance Company Ltd.
Where is Bloom Finance Company headquartered?
Bloom Finance Company is headquartered in Toronto, Canada.
Which VCs invest in companies like Bloom Finance Company?
Among active investors with capital left to deploy, Radical Ventures, Ribbit Capital, TrueBridge Capital Partners and Tribe Capital back financial services companies at Bloom Finance Company's stage. Their profiles are linked below.
VCs backing financial services startups at Series A
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