PORTLAND, Ore., April 10, 2018 /PRNewswire/ — Today, Bumped, the tech company building a new way to access the stock market, announced their formal launch. Bumped is an app that gives customers fractional shares of stock when they spend with their favorite participating brands. Bumped is launching in beta and customers can sign up for the waitlist starting today.
Bumped aims to build lasting one-to-one relationships between customers and the companies they care about. Customers apply for a brokerage account, link their debit or credit card, and select their favorite participating brands. As those customers spend with selected brands, Bumped gives customers a percentage of their purchases back in fractional shares of those stocks.
“I founded Bumped on my belief that everyone deserves to be an owner—because where we choose to spend our money can decide the future success or failure of a company,” says David Nelsen, Founder and CEO of Bumped. “Every transaction is a show of support for what brands you want to see in business in five years. If we turn that transaction into ownership, we can align customers and the brands they love in a mutually beneficial, lasting relationship.”
Only about 50 percent of American households invest in the stock market and only about 14 percent own an actual share of company stock (the rest are in 401ks, etc…). Even with efforts from the tech and finance industries to make investing more accessible, the fact remains that today, fewer people own shares of stock than ten years ago.
At the same time, brands are facing the pressures of disintermediation and price-shopping. One-to-one relationships between brands and their customers can help align incentives between the two and encourage brand loyalty. Bumped believes their technology serves both sides of the relationship.
“Bumped succeeds when the consumer-brand relationship thrives. And it takes at least two to make a relationship…” Nelsen says. “Customers that want to own the brands they love, but feel they don’t have the financial means, knowledge, or confidence, and companies who need to build stronger relationships with the people who matter most in their world—their customers.”
Founder and CEO, David Nelsen, has deep roots in financial technology. His previous business, Giftango, was a digital payments company that brought the digital gift card to market for many of the largest global brands. Giftango was sold December 2012 to InComm (now InComm Digital in Portland, OR).