The investment round was led by SP Ventures, with additional backing from Angel Ventures, The Yield Lab Latam, Eqwow Ventures, Glocal Managers, and Mercy Corps Ventures, among others. The funding is expected to support the company's expansion strategy and ongoing work on its technology infrastructure.
Blooms develops artificial intelligence-powered financial tools aimed at Latin American exporters of agricultural products to the United States and Canada. Its platform is designed to streamline trade finance, cross-border payments, and foreign exchange processes. According to company officials, the goal is to provide exporters with more efficient access to working capital and custom FX solutions, helping them navigate international transactions with greater ease.
Blooms' technology is intended to address the complexities of cross-border trade in agricultural markets, which often face liquidity constraints and currency volatility. By using AI, the company aims to automate key financial processes for exporters in the region.
Blooms provides financial infrastructure for Latin American agricultural exporters, particularly those sending produce to the United States and Canada. The company focuses on helping exporters access working capital and streamline payments through a mix of factoring, pre-export financing, and FX services.
At the core of its platform is a cross-border receivables purchasing service, allowing Blooms to take on credit risk in the US while offering exporters quicker liquidity. The company also offers pre-shipment finance by buying future receivables, essentially funding production in advance.
To facilitate faster and more secure cross-border transactions, Blooms has developed a global payments and FX solution in partnership with US-based financial institution Monex. Exporters using the platform can receive payments through local banking systems in the importing country, reducing payment delays and currency exchange complications.
A data analytics tool is also in development. According to company officials, the tool is expected to provide exporters with better visibility into their cashflows and transaction history, enabling more accurate financial planning and forecasting.
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