Glint Closes Crowdcube Round With More Than £2.1 Million in Funding

UK-based fintech Glint completed its highly successful Crowdcube funding round with a total of £2,166,290 invested from 1659 investors. The funding round was launched in July and quickly surpassed its initial funding target of £1,250,000.

As previously reported, Glint was founded in 2015 and is now on a mission to reintroduce gold as money into the global payments system. The fintech recently released its mobile app and Mastercard to allow users to buy, store, and spend physical gold alongside national currencies and also built a proprietary technology platform providing real-time gold payments and multi-currency wallets with scalability in mind.

“With the Glint smartphone app and Mastercard you can buy, store, and now spend, physical gold through the global payments system. Clients load funds into their account, exchange into gold for a 0.5% fee and can then spend in real time, wherever Mastercard is accepted. The physical gold is allocated and securely held in an independent Brink’s vault in Switzerland.”

Glint also reported that it has already signed two strategic deals in the U.S., which gives the company an audience reach of more than 40 million, brand extension assets and local expertise. The next step on the company’s journey is to maximize those partnerships, develop new deals, launch across international markets and continue on our development roadmap. Speaking about the equity crowdfunding campaign, the Glint Co-Founders Mel Ragnauth, Ben Davies, and Jason Cozens, stated:

“We have been blown away by the level of engagement on the forums and to have reached over £2.1m invested, over 1500 investors and over 100 discussion threads of the forum has been fantastic. Glint has changed the future of banking and thanks to your support, we are all looking forward to establishing an international gold-based challenger bank over the coming months. To all those that have invested, thank you so much for your support and endorsement. We are lucky to have you all and we can’t wait to hear your views on the future of your company!”

During the funding round, Glint announced formed key partnerships for its U.S. expansion. It will be collaborating with Sutton Bank, for Mastercard issuing, and Galileo Processing for its card and ACH processing.

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