SAN DIEGO — Bloom, a decentralized data security solution powered by blockchain, was crowned the winner of the third annual DEMOvation Challenge at the 2019 Auto Finance Innovation Summit, toppling six other startups.
The DEMOvation Challenge offers fledgling startups the opportunity to showcase their technology in front of a wide audience of auto lending and leasing executives during a two-day innovation event.
Bloom is an end-to-end protocol for identity verification, risk assessment, and credit scoring, and aims to connect its users with both traditional and digital currency lenders.
Bloom was founded in September 2017, and its app launched in early 2019. The startup has averaged about 100,000 new users per month, and currently has 400,000 users on its platform. Its 23 employees are based in San Francisco, with team members in New York and Seattle.