Goldex raises over £1 million to create the first marketplace that consolidates the best prices in physical gold
Goldex, the first smart trading app that powers ethical pricing for retail gold investments today announced it has raised over £1 million in a pre- series A round led by a group of prominent angel and institutional investors in the financial, payment and technology sectors.
Amongst those participating in the round are Prepaid Financial Services, one of Europe’s largest payment card issuers; Gaël de Boissard, former Executive Board Member of Credit Suisse; Richard Balarkas, former President and CEO of Instinet and current NED at CBOE Europe and Saxo Capital Markets; Craig James, founder and CEO of Neopay and Chairman of the Board of the Prepaid International Forum, the industry body representing e-money and payment service companies.
The proceeds have been used to enhance the Goldex app, which was launched in late July this year. The company was founded by former City electronic trading pioneers from Credit Suisse and UBS, Sylvia Carrasco and Fernando Ripolles who saw an opportunity to remove barriers to retail gold trading and address unfair practices in the gold investment markets.
Available in UK app stores, Goldex has quickly gained a strong community of users among traditional investors as well as a younger, digitally savvy generation of customers previously shut out from buying and selling gold.
Dubbed the ‘Skyscanner of the gold trading world’, Goldex is reinventing gold ownership by using its smart trading technology to always discover the best price amongst all the gold dealers offering bids and offers within the Goldex platform. This innovative and unbiased business model, together with the fact that Goldex does not own any gold for its own account removes conflicts of interest, always guaranteeing that investors receive the most amount of gold for their money.
Commenting on the investment, Sylvia Carrasco, CEO of Goldex, said: “This funding has taken us a step closer to becoming the leading gold trading platform that is both ethical and fully transparent to consumers. Our pioneering app has solved a longstanding imbalance of power between retail investors and dominant wholesale dealers. The Goldex app gives retail investors the upper hand in obtaining the best gold prices, which together with the imminent launch of the Goldex MasterCard, allows investors to spend gold like any other currency. We are confident this competitive edge gives Goldex the foundations on which it can further build market share.”
Goldex plans to continue its expansion into different regions and increase its B2B business proposition, as demand for gold continues to soar. Said Carrasco: “We are already in conversations towards our Series A round early next year. We are excited to be able to continue with our journey and vision to become the consolidated marketplace where gold speculators and investors always get the best deals.”