- Glint’s crowdfunding round opens today (20th May) – target to raise £2m to accelerate recent rapid growth that has seen a 40% increase in clients over last six months
- Landmark crowdfunding will be used for growth marketing, key strategic hires, product innovation and developing new revenue streams such as accepting Bitcoin as payment, offering corporate accounts & new currencies
- Consumer appetite soars as alternative currency revolution gathers pace
Alternative currencies are soaring in popularity as Glint, the global gold-based payments system that allows clients to securely save, send and spend multiple currencies including real gold, has announced a new simultaneous crowdfunding round in both the UK and the US. Crowdfunding will be available through Seedrs in the UK and Republic in the US – the first time there has been joint crowdfunding across the two platforms and countries.
This crowdfunding round aims to raise £2m which will fund key strategic hires, growth marketing, further product innovation and the development of new revenue streams by facilitating gold to be purchased with Bitcoin, enabling corporate accounts, adding more currencies launching both subscription tiers and retirement savings accounts.
Through Seedrs, the minimum investment is just £17 for investors in 62 countries including the UK and across the Single Euro Payments Area (SEPA) and $10,000 for accredited investors in the US (through Republic).
This crowdfunding round is available to residents of the UK, Europe and other countries through Seedrs: https://www.seedrs.com/glint
Residents of the US should go to: republic.co/glint.
Glint has enjoyed rapid growth over the last six months, recording a 40% spike in clients from 56,100 in November 2020 to 78,650 in April 2021, on track to meet its target of 138,000 clients by Q4 2021. Currently, Glint has processed over £150m in transactions since launch in 2016.
Current shareholders include institutional investors such as Sprott Asset Management, The Tokyo Commodity Exchange (TOCOM), NEC Capital Solutions, Bray Capital and accredited High Net Worth individuals. In total, Glint has raised over £20m since launch.
Jason Cozens, Founder & CEO of Glint, says: “This is a vital milestone in our journey to give everyone an equal opportunity to prosper by democratising and digitising gold. Simultaneously launching crowdfunding campaigns in both the US and the UK reflects gold’s unique position as the most viable alternative to global fiat currencies and its global reputation as a long-term store of value. Its potential as a global, everyday currency to rival the USD and GBP is made possible through Glint’s technology, our app and the Glint Mastercard®.”
“Our strong client growth, over the last quarter especially, demonstrates the consumer appetite for a global alternative currency that can be used on an everyday basis, maintains its value and is independent of the banking system. Our momentum is accelerating and Glint is now established at the forefront of the emerging payments ecosystem. Gold has been used as the ultimate store of value for thousands of years by people and central banks and now, with Glint’s technology, is able to participate in electronic payments and be a viable means of everyday exchange.”
“This crowdfunding will allow us to further scale-up our customer offering as we pursue new and innovative revenue streams and products. Some of the most exciting developments we’re planning are the introduction of new currencies into the Glint wallet, facilitating Bitcoin as payment for gold purchases and a soft launch in Japan where we already have a foothold with investors and distribution partnerships. There is a community that believes in what we do and advocates for a product they are proud to use. That is why we are giving people the opportunity to invest in our business and shape Glint’s future.”
“We are all subject to Government monetary systems that have a huge impact on the distribution of power and wealth and heavily contribute to systemically worsening inequality. The purchasing power of Government currencies depreciates in ways outside of our control due to central bank policy – whilst gold can decline in value, many believe it is a more reliable long-term store of value and its purchasing power is less prone to erode over time. Unfortunately, we cannot rely on Governments to reform the unfair monetary system. Glint launched with the mission of reasserting gold as the global currency of choice, enabling a grassroots return to sound money, independent of the banking system. This latest funding round will assist our efforts to further develop our offering and help unlock consumer access to using gold as a trusted, everyday global currency for the first time in centuries. We believe that gold is security and Glint its key.”
This crowdfunding round follows key developments in recent months including:
- Securing “Principal Member” status with Mastercard®, meaning it can now issue the Glint card directly to UK customers and issue on behalf of other institutions and corporates, unlocking new commercial opportunities and revenue streams. Glint now holds a UK Mastercard Licence.
- The UK launch of Glint It!, Glint’s peer-to-peer (P2P) tool allowing real gold and other currencies to be sent instantly and securely between Glint accounts – a global first. Glint It! is currently available in over 200 countries. In the US, Glint has recently launched Glint It! for USD with Glint It! for gold to follow.
- Opening its largest corporate account to date for asset manager Perspective Investments, which is storing its capital in gold and offering to pay staff salaries in gold. This crowdfunding round will allow Glint to create a corporate account facility, suitable for businesses of all sizes
- Strengthening the leadership team with Emmanuel Ide joining as the new Head of Engineering to develop Glint’s technology platform and customer experience to position Glint as the leading global alternative payments system.
Jason Cozens adds: “Apart from being beautiful, gold is a valued and trusted store of wealth because it is finite, immutable, has stood the test of time and its nature cannot be corrupted by governments and central banks.”
For UK tax payers, this crowdfunding round is eligible for Enterprise Investment Scheme (EIS) tax relief and Glint has received EIS Advance Assurance from HMRC in the UK. The scheme allows eligible UK tax paying investors to claim up to 30% income tax relief on their investments, and up to £1 million per fiscal year.