What's Your Problem? The App Where Strangers Lend Each Other Money
Nov 20, 2025
Nina Mohanty, founder and CEO of Bloom Money, shares insights on building a fintech app to support immigrants in managing finances. She discusses the importance of rotating savings groups and how cultural traditions can influence modern practices. Nina explains the technology behind Bloom, highlighting its unique structure that connects users for saving and lending. She also addresses the challenges of navigating regulations and venture capital, and reveals plans to expand into new markets to empower diaspora communities.
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Rosca Is A Global Financial Technology
- Rotating savings (Rosca) is a global, thousand-year financial technology replicated across cultures.
- Nina sees it as a foundational, culturally resonant payment behavior to build modern financial products on.
Grandmother’s Village Circle
- Nina describes her grandmother running a village rotating fund where 10 women each put 100 rupees monthly into a pot.
- Each month one woman received the full 1,000 rupees and the pot rotated until everyone had their turn.
Many Names, Same Practice
- Roscas appear in many cultures under varied names like hui, tanda, kitties, tontine and more.
- Their global prevalence suggests both cultural and practical drivers like trust and access to safe savings.