LOOMO is a trading app that makes it simple for non-expert traders to obtain an ROI from stocks. LOOMO does this by enforcing best investment practices thereby limiting risky investment behavior.
Current Status
Launched in Nigeria on February 28th.
No advertising/marketing yet.
Validated Model
- 60% of days, at least half the users were profitable.
- 10 days so 100% users profitable, regardless of investment portfolio mix.
Over $10k in AUM
Problem or Opportunity
Nigerian savers are grappling with unprecedented inflation and a devalued naira, seeking safe methods to outpace inflation. Many turn to risky and unregulated crypto exchanges or stock trading apps that prioritize features over profitability. Others gamble with Ponzi schemes. Ultimately, many revert to traditional savings apps, which only offer limited returns.
Solution (product or service)
LOOMO is a stock trading app designed to help inexperienced traders earn profits by integrating best investment practices into its platform, guiding users towards a higher likelihood of profitability. Importantly, LOOMO does not invest on behalf of its users.
Business model
We take a commission on Trades ( Buy Orders and Sell Orders)
$0.4 per commission
We have a higher number of trades, because we only Dollar Cost Average.
