Goldex bags £1 million investment in pre-Series A round.
U.K. based ‘ethical’ gold trading app, Goldex that professes itself to direct ‘ethical pricing’ for retail gold investments has raised over £1 million in a pre-Series A funding round.
The investment round was led by Prepaid Financial Services; Gaël de Boissard, former executive board member of Credit Suisse; Richard Balarkas, former president and CEO of Instinet's; Craig James, founder, and CEO of Neopay.
This gold-trading app founded in July 2018 by Sylvia Carrasco and Fernando Ripolles, former City electronic trading pioneers from Credit Suisse and UBS, aims to remove barriers to retail gold trading and address questionable practices in the gold investment markets.
The application boasts about finding the best cost among all the gold merchants offering bids and offers inside the Goldex stage. Sylvia Carrasco, CEO of Goldex says,
“The funding has taken us a step closer to becoming the leading gold trading platform that is both ethical and fully transparent to consumers.”
Glint, a potent competitor holds physical gold and set their own prices for buying and selling, whereas Goldex does not hold any gold inventory.
The Company says that this process ensures savings of up to 12% on the exchanges and avoids any price manipulations and helps in keeping things transparent.