App/tech business of the week- Bamboo

01/06/2018 - 13:14

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Bamboo is a micro-savings application that automatically rounds up daily transactions and invests it into a chosen cryptographic asset in a risk appropriate way.

Co-founder Phil George says the app allows for cryptoassets to be acquired in a simple manner.

What?

Bamboo is a micro-savings application that automatically rounds up daily transactions and invests it into a chosen cryptographic asset in a risk appropriate way. For example, if someone purchases a coffee for $4.80, the remaining $0.20 of change will be microinvested into cryptocurrency. Rounding-up change isn't the only way users can allocate savings into crypto, they can also make scheduled or one-off transfers. 

Where?

Individuals can register for the app via https://getbamboo.io and will be notified once the app becomes available.

Who?

Bamboo’s research and development arm is based in Perth, but the company has an international presence. Bamboo founder and director Phil George was a former logistics and operations manager at Uber Australia. Collectively, the team has operational and commercial experience across product development, design and release, and risk management with companies such as Chevron, Uber, Typeform, Filecoin, EY, Google and HSBC.

Quote

“We wanted to create a downloadable application that enables cryptoassets to be acquired quickly and easily without the complexities of current solutions,” Phil George said.

$/Market/News

Participants and partners who closed the $2 million presale include ASX-listed DigitalX, Bitcoin Advisors, Sansom Capital, Digital Capital Management and Fidem Partners.

The application will launch in Australia in Q3 of 2018, followed closely by the US, Europe and Asia.

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