getBamboo & Sila

A Micro-savings Style App That Allows Users to Auto Invest in Digital Currencies and Digital Asset Accounts

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getBamboo & Sila:
At a Glance

A simple, auto-investing app that allows easy investing in digital currencies and digital assets

Making crypto investing easier with round-ups and other financial features

getBamboo’s mission is to make crypto investing as easy as possible by using round-ups to the next dollar to feed crypto portfolios. Through the method of “micro investing,” and powered by Sila’s core technology infrastructure, getBamboo helps people to save little by little via everyday spending.

getBamboo is a successful business in Australia, and is ready to launch in the U.S. thanks to Sila’s expertise with the U.S. regulatory environment.

Founder Blake Cassidy is betting on Ether and Bitcoin to serve as a hedge against other investments more subject to inflationary pressures. He created a powerful app that helps others in that market too!

getBamboo piggy-backs off of Sila’s powerful technology, which has smart contract technology for automated finance.

#powerfultech

A microinvesting app that makes crypto savings far easier, powered by the sila infrastructure.

With the dedicated compliance features Sila offers, getBamboo sped up startup time and saved a lot during this initial phase.

#compliance, #experts

And, thanks to Sila’s Fintech Ecosystem, getBamboo always knows that it can add on features as it expands.

#fintechmarketplace

The Goal

A Micro-savings Style App That Allows Users to Auto Invest in Digital Currencies and Digital Asset Accounts, Just Like Others Do for Fiat Currencies

With the rise of functionality and security that cryptocurrencies bring, the founder of getBamboo, Blake Cassidy, wanted an app that increased its use cases. We have auto-investing apps available for fiat currencies, but what about digital assets and cryptocurrencies?

Cassidy eventually developed a micro savings and micro investing platform in Australia and now in the U.S. through Sila that auto-invests for its users at regular intervals.

Without Sila

Having to find a way to get a money transmitter licenses (MTL) in all 50 states (which the getBamboo team wanted to avoid in the first place).
Navigating the complicated anti-money laundering laws (AML) in the U.S.
Finding a way to integrate their core product in Australia with the crucial financial features that are found only in the U.S. markets.
Finding a way to connect bank accounts and hold sensitive banking data.
Forced to pick and choose which features to implement first because implementing them is expensive and/or hard to do

With Sila

Partnering with Sila, who has bank agent status and therefore access to MTLs in all 50 states.
Using Sila’s expertise to help navigate the complicated compliance market in the U.S. (a far cheaper and easier route).
Easily integrating with Sila’s core code and app aggregation technology, rather than having to start from scratch.
Using Sila’s partnerships that connect seamlessly with their code and collect the sensitive bank data securely so Sila users don’t have to.
Accessing Sila feature list and Fintech Marketplace right away at a reasonable cost, or later to scale when desirable.

A new financial world, built by you.

Sila offers a simple, secure, and scalable banking API to make money programmable with built-in regulatory compliance.

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Results

With success in Australia, Cassidy and the getBamboo team were looking to expand into the U.S. However, the complications of the anti-money laundering regulations, and money transmitter licensing requirements present in the U.S. made things difficult.

In the U.S., Cassidy wanted to get around acquiring the MTL themselves because of the cost and capital-intensive process. Luckily, with Sila’s status as a bank agent, this was all made possible.

When Cassidy and the getBamboo team came to Sila, he immediately could see that Sila understood their product and what they were about. The expertise in the fintech realm made the startup with Sila a breeze.

Now, Cassidy can look to releasing getBamboo into the powerful emerging Gen Z market in the U.S., who are interested in investing spare change into crypto. And soon, just like in Australia, more people will be able to add Bitcoin and Ethereum to retirement funds.

getBamboo is the trusted investment app that links to a bank account, making tiny investments into crypto and precious metals whenever users spend money from the connected account.

getBamboo makes investing in Bitcoin, Ethereum, and Gold and Silver Standard very simple.

With a drive to grow crypto functionality and easy investing, getBamboo was created by an early founding team and a small crew of investors. getBamboo is very successful in Australia. The team also favors financial education and hosts a crypto podcast, which is #1 in Australia in the business category. The podcast talks often about the fundamentals of crypto in business.

getBamboo is simple for anyone to use. Powered by Sila’s smart contract technology, the software allows users to sign up, prove identity, connect a bank account, and connect asset accounts to automate financial savings in crypto and digital assets.

Every time the user makes a purchase on the dedicated connected account, the app automatically tops-up the savings into an investment account so that users can slowly but surely, and automatically, build their investment portfolio in crypto while making everyday purchases.

With over 22,000 users in Australia and a large waiting list in the U.S., getBamboo makes a lot of sense for many people eager to auto-invest into crypto technologies.

A friend worked in the payment processing industry. As we were looking to enter the market, he recommended a few and we spoke to many. Sila felt like a great fit for us. Some were very corporate, and didn't understand our challenges. When we understood Sila and its product, it matched up with how we manage cash flow. People have been amazing.

— Blake Cassidy, Founder

The Results

In the U.S., Cassidy wanted to get around acquiring the MTL themselves because of the cost and capital-intensive process. Luckily, with Sila’s status as a bank agent, this was all made possible.

getBamboo is the trusted investment app that links to a bank account, making tiny investments into crypto and precious metals whenever users spend money from the connected account.

getBamboo makes investing in Bitcoin, Ethereum, and Gold and Silver Standard very simple.

With over 22,000 users in Australia and a large waiting list in the U.S., getBamboo makes a lot of sense for many people eager to auto-invest into crypto technologies.

The Results

In the U.S., Cassidy wanted to get around acquiring the MTL themselves because of the cost and capital-intensive process. Luckily, with Sila’s status as a bank agent, this was all made possible.

getBamboo is the trusted investment app that links to a bank account, making tiny investments into crypto and precious metals whenever users spend money from the connected account.

getBamboo makes investing in Bitcoin, Ethereum, and Gold and Silver Standard very simple.

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Result 4

With over 22,000 users in Australia and a large waiting list in the U.S., getBamboo makes a lot of sense for many people eager to auto-invest into crypto technologies.