Elevate (formerly Bloom)

Elevate, previously recognized under various names including Bloom and East Africa Financial Technologies Inc., operates primarily within the fintech industry, focusing on the payments sub-sector. With offices in Dubai, United Arab Emirates, and London, England, the company employs a team of seven individuals. Elevate participated in the Y-Combinator W22 batch and serves regions including the United Arab Emirates, United Kingdom, Middle East and North Africa, Europe, and offers remote services. The company provides a range of financial services including FDIC-insured USD accounts, which protect deposits up to $250,000, and a virtual USD debit card. Elevate enables users to receive USD swiftly from global employers, hold money indefinitely without monthly fees, and transfer funds to local bank accounts at competitive rates. The company is PCI-DSS certified, ensuring high security standards, and partners with Bangor Savings Bank for banking services. Additionally, Elevate supports various modern payment features such as contactless payments via phone or watch, Apple Pay, Google Pay, and offers a virtual Mastercard with no issuance fees. Users can open an account in three simple steps involving app download, identity verification through a photo ID and selfie, and account activation. Elevate aims to cater to non-US residents in emerging markets, facilitating easy and secure online and international spending.