SendGold platform brings real assets to digital currency
SendGold, a Sydney based fintech company with an asset-based peer-to-peer digital money platform, has launched an equity crowdfunding campaign to raise $2 million. SendGold is hyper-liquid, hyper-accessible, and based on physical gold, one of history’s most reliable assets.
SendGold is an alternative to bank money as it allows its customers to save, invest, gift and pay using gold. The SendGold technology platform is highly scalable and its business model addresses some of the largest markets in the world, including not only gold, but payments, gaming and rewards, targeting Asia’s fast-growing and increasingly wealthy middle class.
SendGold CEO and co-founder Jodi Stanton said, “We believe the world’s current money systems are based on technologies and institutions that are outdated, expensive and slow. It can still take days to send funds to another country even with a global internet and 6 billion mobile phones in people’s hands. Bank currencies tend to lose their buying power, especially in Asia, the company’s target market. Money is one of the last major domains awaiting an internet upgrade.”
Ms Stanton stated “SendGold is peer-to-peer, instant, and global like Bitcoin, but is based on a real asset that is simpler to understand, simpler to secure, and less volatile. SendGold delivers these benefits in a way that complies with global banking regulations.”
SendGold is currently live in various forms in India, Australia, India, New Zealand, China, Vietnam, Indonesia, Hong Kong, Singapore and the Philippines.
SendGold continues the tradition of new entrants aiming to disrupt mobile payments and investment accessibility. Mobile payments are growing 33% year on year and simple investment apps like Robinhood and Acorns/Raiz are both stealing market share and creating new market segments. Robinhood, founded in 2013, was recently valued at US $5.6 billion.
SendGold plans to spend the funds it will raise via equity crowdfunding platform OnMarket to grow their team, further develop the platform, and substantially drive customer and business acquisition.
Ben Bucknell CEO of OnMarket commented “SendGold has previously raised $2.3mil from high net worth investors. We are delighted to offer retail investors the opportunity to invest in this innovative fintech company for the first time. SendGold has embraced the new equity crowdfunding laws by using the OnMarket platform to enable all investors the chance to own equity in SendGold.”
- Equity crowdfunding offer to raise up to $2 million, closes Friday Sept 14
- Operating in the highest trending sectors in the world – mobile payments, peer-to-peer transactions, online gifting, social gaming and digital rewards
- Based upon a real asset, customers are the outright individual owners of 99.95% pure physical gold bullion
- Built to an institutional standard, AML and KYC compliant and fully regulated under Australian law
- Currently live in 9 countries in Asia Pacific, home to 43% of the world’s population, including India and China
- Major B2B deals signed in Rewards and Gaming
- Early traction and brand recognition via 7,000 app downloads, 180,000 Facebook followers, over 20% monthly customer and transaction growth
- Previously raised over $2 million from sophisticated investors, first time SendGold has been offered for investment to retail investors
The new crowd-sourced funding legislation allows unlisted public companies the opportunity to raise up to $5 million per year from the crowd. OnMarket has become the leading equity crowdfunding platform in Australia, successfully completing several equity crowdfunding deals in the short time since receiving an equity crowdfunding intermediary licence from ASIC.
The SendGold equity crowdfunding offer is live via the OnMarket platform till September 14. SendGold is targeting a minimum raise size of $500,000, and a maximum of $2 million. The minimum bid size into the offer is $250.