Glint to raise GBP 1.25 mln as part of financing round of GBP 15 mln

Monday 16 July 2018 10:21 CET | News

Glint has announced that it will raise GBP 1.25 million via a crowdfunding exercise, as part of a Series A funding to raise of GBP 15 million.

Glint is a fintech startup which has introduced physical gold as money to spend as a currency via an account and mobile app based technology. Since its inception, the startup has raised over GBP 7.5 million in capital from private and institutional investors. The company is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money.

Glint has decided to raise money via a crowdfunding exercise with Crowdcube to meet demand from clients and the public to participate in this round, as part of an overall fundraise to maximize partnerships and distribution deals in the UK and US and to develop new functionalities, according to the press release.

The company helps customer hold EUR and USD, along with gold and sterling in multi-currency wallets, all through a single Glint account, which can be spent through the global Mastercard network using the Glint card. To mark the launch of additional currencies, Glint is to offer the first 50,000 people to load GBP 1,000 or EUR 1,000 into the gold account (fee is 0.5%) fee free gold/FX buy and spend until the end of 2019.

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Keywords: Glint, fintech, startup, Electronic Money Regulations, US, UK
Countries: World