With a goal to empower people to get involved in the cryptocurrency space, without being too overwhelming, time consuming or difficult, Bamboo created an app that provides its users with the smartest way to get involved in cryptocurrency. “At Bamboo, we promote the idea of 'Dollar Cost Averaging' into the market with the users' spare change.” CEO, Blake Cassidy shares. “We feel this strategy helps mitigate the risk of short term volatility in this market and can make it a lot less daunting for new users.”
Since then, a Perth based fund management company called Digital Capital Management, helped acquire and capitalise the business in mid 2020. This led to the appointment of Blake Cassidy as the CEO, as well as a new tech team based in Europe. For the last 12 months, Bamboo has been on a strong growth trajectory, with their user base growing 10x its size as they plan to move to international markets.
When asked how they feel about the current state of the cryptocurrency in Australia, the Bamboo team shared that it’s currently very positive. “Australia is known globally to have some of the best crypto/blockchain based talent in the world.” They began. “Some of the most successful projects in the space have had strong Australian roots including Synthetix, Power Ledger and even Dogecoin!”
“We’ve also seen an increase in fund managers, SMSFs and sophisticated investors starting to diversify in this asset class, however some of the biggest challenges we have as a company is recruiting tech talent locally. We have seen high competition for developer roles and since COVID-19 and the borders closing down, there is an industry shortage.”
Since their early days, Spacecubed has been a big supporter of the team at Bamboo, with their original team being some of our very first members, and with Blake recently completing our 2020 Plus Eight Accelerator program himself.
“There's really no place we'd rather be than at Spacecubed. From the morning start-up events to watching startups move through the Plus Eight Accelerator: there's always something going on. We feel fortunate that there’s always support from the Spacecubed community and we always look to leverage the resources available to us.”
To provide additional support for Spacecubed members looking to get involved, the team at Bamboo are giving users a $10 bonus, AND donating $10 for every sign up from the Spacecubed community. This helps them onboard YOU, the innovators, techies and entrepreneurs who can provide their team with the valuable product feedback to build a great product. It also provides a direct reinvestment in WA Social Enterprises, as the donated money will go towards offering free coworking access, mentoring and growth programs through Spacecubed Foundation’s Impact Scholarships.
So, sign up to Bamboo today and invest in not only the future of cryptocurrency, but the budding founders in WA. Speak to your Community Host (email@example.com) to access the code for your $10 bonus and to ensure that an additional $10 is reinvested back through local startups!
Bamboo is a microinvestments platform that allows anyone to seamlessly purchase digital assets, like Gold and Bitcoin. It's an easy, secure, and effective way to participate in this growing asset class. All you need is a mobile phone and a bank account to get started. Learn more here.