Investors including SMBC Venture Capital, Mitsubishi UFJ Innovation Partners, and Mizuho Capital contributed 800 million yen (roughly $7 million) to Tokyo-based Bloomo Investment as seed money.
Users should be able to regularly trade US stocks and exchange-traded funds (ETF) thanks to Bloomo. Its objective is to open up investment opportunities to everyone, with a focus on the rising interest among young Japanese in purchasing foreign stocks.
By choosing stocks and ETFs, setting their investment allocation, and consulting or copying the portfolios of other users or well-known investors, users of the app can create their own portfolios.
Bloomo plans to introduce the product by the summer of 2023 and has submitted an application for registration as a securities company. Additionally, the company has made a waitlist available for users to sign up for the pre-launch.
In 2022, the business was established. SMBC Venture Capital, Spiral Capital/Spiral Innovation Partners, Global Brain Corporation, Scrum Ventures, and Insignia Ventures Partners were some of the additional investors.
