Sydney Fintech opens fund raise for $6M with extensive growth plans for digititalised gold
Peer-to-peer investment and payments platform SendGold gives investors of all sizes a chance to join the digital currency revolution by purchasing shares through leading equity crowdfunding platform Birchal. The raise opened on Thursday, 21 November 2019.
SendGold is a fully-compliant technology platform that enables customers and businesses to hold and instantly exchange history’s most reliable safe haven asset, gold bullion.
SendGold bridges the gap between the old world of ultra-low bank interest rates from legacy banks who are still using dated processes and the new world of ubiquitous mobile connectivity, stability and instant peer-to-peer sharing.
World-first open API Platform
SendGold have built a world-first open API Gold-as-a-Service platform for physical gold. This enables partners to embed gold transactions through their existing platforms on a turnkey, white label or branded basis. SendGold already just launched Global Rewards Solutions, the world’s largest cloud-based loyalty platform with blue-chip customers and millions of participants around the globe, with transaction volume growing at 80% per month.
With shares in the company available on the Birchal platform, SendGold CEO Jodi Stanton said SendGold is attracting interest from investors who want to participate in the rapid innovations shaking up the multi-trillion dollar payments and investments industries. We are particularly interesting to investors with family overseas who require cross-border transfers.
Early Traction
More than 7,000 people have signed up for the SendGold app, acquired predominantly by word-of-mouth. SendGold will begin to capitalise on their active Facebook following of more than 300,000 people, primarily in India, the world’s leading country for gold investment and one of the largest Facebook communities on the planet.
“A year ago, we did our first equity crowdfunding campaign”, Ms. Stanton said, “and a lot has changed since then. We’ve released a new version of our app, received our Australian Financial Services licence, and been approved for new payment gateways that will make it easier than ever for people across Asia and the rest of the globe to access our product”.
Crowdfunding for us is about getting our story out to the market, and attracting new high value customers. As a p2p network, this lowers our acquisition costs further. This year we are offering gold rewards as an investor incentive. The gold offer also drives more transactions through the platform, helping us in a small way towards our next goal to $50m in total transactions. And those with gold balances in their account will gift or send gold to others, thus spreading the word further. And some day, now or later, depending on individual circumstances and market conditions, all will eventually sell the gold (thus generating even more transactions).
Share Offer
The Company would be the first to admit they require more capital. SendGold will issue shares at $0.55 each through Birchal, with a minimum investment of $250, with expectations of raising up to $0.75 million. SendGold is also in discussions with strategic investors and intends to raise a further $5.25 million in the next six months.
Ms. Stanton said SendGold is now positioned to disrupt the heavily-traded traditional gold market, with daily trading volumes exceeding the S&P 500. But she also noted that the company’s platform uniquely enables them to extend the markets for gold into loyalty programs, online and mobile games, digital banks, and DIY wealth.
“We built our platform for distribution at scale, with global partners for wholesale foreign exchange and payments, comprehensive compliance across banking and AML, and gold suppliers at the top of the global gold supply chain. That heavy lifting is now done, and what people are investing in now is growth and customer experience.”
Expansion Capital
The company will use a portion of the expansion capital to run an aggressive global promotional campaign using their unique gamified customer acquisition tool, Gold Rush by SendGold. This augmented reality game works similarly to the worldwide phenomenon, Pokémon GO but using real gold rewards – an effective low-cost, viral brand awareness.
This essentially enables SendGold to drop strategic and time-based promotional gold nuggets in any amount, anywhere in the world. “We built our platform with customer experience and cost of customer acquisition as key design imperatives. SendGold’s unique Gold-as-a-Service and Gold Rush are both examples of this.” continued Stanton. “It’s good strategy, but it’s also good fun, not only for our tech savvy millennial customers, but for gold investors of any age. And it’s a live demonstration of what’s possible using our Gold-as-a-Service APIs. This is just the beginning”.
You can check out SendGold’s crowdfunding campaign here: https://www.birchal.com/company/sendgold/r/fintech
