What Is Blossom Social?
Blossom is a new, up-and-coming social investing app for Canadians where you can see what your friends and top investors are holding in their portfolios. Users can verify their portfolio on the app by linking their brokerage account. They can then share their investments, see what their friends are trading, and discover new investment opportunities.
The app is unique in Canada because Wealthsimple, Questrade, and no other app provides investors with a social media feed - let alone one with verified stock holdings. Blossom recently raised $750,000 CAD to help build community around investing. In the future, they plan to add stock trading and become a full service brokerage.
Other Social Brokerages
Although Blossom is Canada's first social brokerage experience, the concept is already popular in other countries since many investors find it useful. For instance, Public.com in the United States has grown to 1 million users and is backed by celebrities such as Will Smith and Tony Hawk. Other examples around the world include eToro, Webull, and Shares, all of which have social investing features.
How Does It Work?
Blossom is free to use and allows you to link most popular Canadian brokers like CIBC, Wealthsimple, Questrade, and so on. It's very simple to get started:
Blossom's Key Features
Starting with the profile, you can see your "Portfolio Breakdown" once you link your brokerage. Blossom supports all the well known brokers like with Wealthsimple, Questrade, Scotiabank, and more. Afterwards, you can create posts and see your trade history. You can also get notified when someone you follow makes a trade.
Social Media Feed
When you open the app, you are greeted to the home page where you can see Posts and Trades. You can also filter the content between people you follow and people you don't. You will find a diverse amount of content and you can also find the Discover page for more research tools.
With all the data from linked portfolios, Blossom has created some cool research tools like:
- Top investors by performance
- Top 25 held stocks on Blossom
- Top 25 most talked about stocks
You can also follow Topics, which are sub-channels for different discussions. These include Dividends, Beginner Investors, Market News, Ethical Investing, Real Estate, and many more.
Blossom is 100% free, with no ads or hidden fees. Their current focus is on attracting users since they are a startup. It seems like they are earning money through the Learn to Earn program.
Blossom has a public roadmap which you can check out. They plan to become a full service brokerage, enabling you to buy and sell stocks and other assets.
Who Is Behind Blossom Social?
Blossom is a Vancouver-based fintech company with 3 co-founders: Maxwell Nocholson, Kartik Bhutani, and Annika Ng. They raised $750,000 CAD in an angel financing round. Some of those investors include Ryan Holmes (founder of Hootsuite) and YouTubers Brandon Beavis and Shay Huang.
What Do Users Think?
I scoured online reviews from the App Store, Reddit, Trust Pilot, and more to see what users think about Blossom. It’s extremely positive so far with a 4.7-star rating on the App Store (166 ratings). A lot of people enjoy Blossom as an alternative to Reddit and Twitter, and they enjoy getting advice from the Blossom community.
If you want to discover new investment ideas, track your portfolio, and see what others are investing in, Blossom is a great app that doesn't cost any money. Plus, with verified stock holdings, there's nothing else like it in Canada.
Pros & Cons
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