What's Your Problem? The App Where Strangers Lend Each Other Money
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Nov 20, 2025 Nina Mohanty, founder and CEO of Bloom Money, shares insights on building a fintech app to support immigrants in managing finances. She discusses the importance of rotating savings groups and how cultural traditions can influence modern practices. Nina explains the technology behind Bloom, highlighting its unique structure that connects users for saving and lending. She also addresses the challenges of navigating regulations and venture capital, and reveals plans to expand into new markets to empower diaspora communities.
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No-Code Test With 50 Women
- Nina built a no-code app and invited 50 women to test digital circles and saw 100% on-time payments.
- Positive feedback convinced her to pursue regulation and productization of the idea.
Educate Regulators Early
- When digitizing informal finance, engage regulators early and educate them about the cultural practice.
- Treat the product as its own category rather than forcing it into peer-to-peer lending or crowdfunding labels.
Bloom As The Payment Rails
- Bloom circles automate collections by linking UK-issued debit cards and orchestrating payments into bank accounts.
- The app acts as payment rails and reduces the stress of cash handling for participants.