Glint Pay Inc. (Glint), a subsidiary of the U.K.-based fintech company that makes gold an alternative global currency by enabling its clients to buy, sell, save and spend their physical gold instantly through the Glint Debit Mastercard and Glint App, reportedly secured £2.5 million through its latest investment round.
As previously reported, Glint was founded in 2015 and is on a mission to reintroduce gold as money into the global payments system. In 2018, the fintech 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. Glint raised more than £2.1 million through its Crowdcube funding round in 2017.
Jason Cozens, Founder and CEO of Glint, previously spoke about the company’s development:
“Our mission is to bring a reliable gold currency to the fingertips of everyone in the world. We are excited to introduce Glint to the U.S. market and continue our steady growth towards democratizing gold. Welcome to money’s new standard. Gold has a crucial historic role as money, and we see it defining a future whereby people can take control over their own income streams and not leave them to the mercies of banks. As the world inexorably moves to being cashless, Glint provides the perfect future-proofed solution to 24/7 globalized living.”
Speaking about the investment, Cozens reportedly shared with UK Investor Magazine:
“This latest funding is another significant step towards fulfilling our growth plans. We set out to transform the industry and the amount of funding we’ve secured since launch proves that there’s real appetite amongst investors and consumers for an innovative alternative to spend, save and store their finances. After last year’s expansion into the US and the launch of our P2P offering, Glint It!, we’re eager to tackle the next stage of our growth and meet our ambitious targets over the next 12 months. Additional funding will help to facilitate this, but it is our diverse and exceptional leadership team that provides us with a clear, competitive edge.”
Cozens then added that the investment will accelerate the company’s international expansion as well as attract additional future investment sources, from both within the UK and externally.