Australian FinTech company profile #50 - GoldFund

1. Company Name: GoldFund.io Pty Ltd

2. Website: www.goldfund.io

3. Key Staff & Titles: Tim Mckinnon Chairman/CEO

4. Location(s): Sydney

5. In one sentence, what does your fintech do?:

Put simply GOLDFUND (GFUN) is helping near term precious metals producers get into production by providing the capital they need. In return GOLDFUND is rewarded with part of the production, which is returned to GOLDFUND for purchase by Gold Buyers.

6. How / why did you start your fintech company?:

To provide development capital for small gold mines that are overlooked by investment funds. Typically small Gold Mines have a very high ROI but short lifespan, and often are looked at as high risk investments. By spreading risk across a number of assets, and crowdfunding the development of these mines are the two main reasons we implemented the GoldFund.

7. What is the best thing your company has achieved or learnt along the way (this can include awards, capital raising etc)?:

New technology is often difficult to implement, or even understand, from the perspective of investors who say, “we have always done it the normal way”. In the fast growing cryptocurrency area, we have now seen Bitcoin become a legitimate currency in its’ own right, and all in a very short period of time. GoldFund is proud to say that it has hit the bullseye, in terms of speed of development, adoption by global cryptocurrency exchanges, and even rapid adoption by smaller investors in the “crowd funding” space. Our biggest achievement is yet to come as we go into Gold production with our partners and return discounted gold to the crypto economy.

8. What’s some advice you’d give to an aspiring start-up?:

My best advice is, plan carefully, then double the cost, and triple the time you first thought it would take to launch your idea.

9. What’s next for your company? And are you looking to expand overseas or stay focussed on Australia?:

Our next step is putting our Gold Crypto Kiosks out into public spaces for people to interact with our GoldFund Token, Real Gold and the Blockchain.

10. What other fintechs or companies do you admire?:

There is no doubt that there are plenty of fantastic companies reinventing how Financial Technology works. My award would go to Google. Constant innovation is something they are passionate about, and really a model on which any digital enterprise can learn from.