Millennial entrepreneur raised $2 million for a money-saving app for immigrants [MSNBC.com]
Mastercard Incorporated (MA)
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Source: MSNBC.com
Nina Mohanty, founder of Bloom Money.One millennial entrepreneur raised $2 million to build a financial app catered to traditional money-saving methods used by immigrant communities in the West.Silicon Valley native Nina Mohanty founded Bloom Money in 2021, a fintech app designed to support U.K.-based immigrant communities to save money collaboratively, also known as "money circles" or rotating savings and credit associations (ROSCA). The 32-year-old founder has raised £1.5 million ($2 million) in venture capital to build Bloom Money.Mohanty, who has lived in the U.K. for a decade and worked at banks like Klarna and Mastercard, says mainstream banks don't understand how immigrant communities manage their money."At a certain point I just realized I got very frustrated wondering who was building for immigrant communities because I was building the same product for the same person all the time," Mohanty said in an interview withCNBC Make ItMohanty pointed out that when it comes to money,
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