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South African Fintech Startup Rebrands From Moya Money to Bloo Money

By Oluchukwu Ikemefuna

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From Moya to Bloo: South African fintech startup, Moya Money, rebrands as Bloo Money in May 2024. The startup aims to distinguish itself, inject vibrancy into the sector, and acknowledge its global co-founders. 

From Moya to Bloo

Rebrand From Moya to Bloo Origin

The firm was co-founded by Thulani Masebenza and Sabica Pardesi in March 2021. Bloo aids freelancers through its financial app while focusing on transforming how freelancers manage work and finances. Bloo Money assures users its core product, a freelance management system (FMS), remains unchanged, despite the rebrand. It emphasizes its dedication to innovation and customer-centricity. Also, the startup empowers freelancers through a financial app. The founders operate globally, based in both South Africa and the UK respectively. This is the major reason the name of the company was changed. 

Reasons for Rebranding from Moya to Bloo

The decision to change from moya to Bloo originated from the desire to distinguish itself from other companies with a similar name. The company believes the decision brings a burst of color to the fintech industry. The name “Blooˮ is a name that also resonates geographically across all borders.

With the Rebrand comes the following: 

  • Business Strategy Continuity 

Bloo Money’s core product will remain unaffected, continuing to support businesses with a freelance management system (FMS). This will manage their freelance administration.

  • Alignment with Company Vision, Mission, and Values

Bloo Money continues to reflect the company’s core values and goals in several key ways.

Firstly, the name echoes their mission which is “to make self-employment sustainable for the African gig economy”.

Second, the new name is not only consistent with its commitment to the African gig economy, but it also promotes playfulness, friendliness, and customer centricity, as evidenced by its values.

Finally, the company’s choice of a playful and vivid name symbolizes its dedication to providing a playful and engaging user experience. 

Bloo Money wants to bolster its client relationship and promote its position as a forward-thinking and approachable fintech platform. This is what brought about the change from moya to Bloo. This is highlighted by including playful elements in its brand identity. 

Co-founders Speak on Rebranding From Moya to Bloo

Thulani and Sabica envision Bloo Money as more than just a fintech platform, they see it as a symbol of empowerment, creativity, and inclusivity. With the change from Moya to Bloo, the company seeks to resonate with freelancers worldwide and usher in a new era of financial empowerment.

”When we started and along the journey, our product vision has always been to transform the way we freelancers work. Also, the way they handle their finances and the foundational principle is basically their relationship with money,” Sabica says.

Thulani added: “Ultimately when we made the decision to change our name we wanted one that would be unique, could be playful, could resonate with many of our customers. Especially those who are in the creative space and would be inclusive to be pronounced easily by people across the world.”

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Abdullahi Kafayat
Abdullahi Kafayat

Abdullahi Kafayat is an enthusiastic writer interested in the tech world. She's a graduate of Obafemi Awolowo University and has a BSc in Chemistry. You can reach her at Kafayatabdullahi17@gmail.com.

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