Fixed income app Blossom doubled FUM in 2023 to hit $50m milestone, sets sights on $100m for 2024

Blossom, the Australian fixed income app, have announced that they have hit their ambitious target of $50 million of funds under management (FUM). This impressive milestone signifies a doubling of Blossom’s FUM in 2023, up from $25 million, reflecting the increasing interest in fixed income investments among Australian businesses and individuals this year.​

In addition to a growing awareness of fixed income amongst everyday Australians, Blossom says that increasing their targeted return 6 times this year to 5.95% p.a. as well as their expanded product offering as having a significant impact on their FUM growth.

The second half of the year saw the launch of two new product offerings, ‘Blossom for Business’ and ‘Blossom for SMSF’, allowing small and medium enterprises (SMEs) and self-managed super funds (SMSFs) to access fixed income investments.

Blossom concluded 2023 on a high note with their ’12 Days of Savings’ campaign in December, which has seen Blossom users receive their share in $24,000 worth of prizes in the lead up to Christmas.

Gaby Rosenberg (pictured), Co-Founder and CEO of Blossom, said, “2023 has been a fantastic year for Blossom and we are thrilled to have reached our ambitious target of $50 million of FUM.​

“We’ve seen a surge in interest in fixed income investments, but we’re not stopping here, we are already setting our sights higher for 2024, aiming to double our FUM again to $100 million.​

“We’ve worked hard to democratise bonds for everyday Australians. We look forward to seeing similar access provided to businesses and SMSFs throughout 2024.”​

Everyday Australians, SMEs and SMSFs can invest in the professionally managed Blossom Fund through the Blossom app.