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Glint Pay raises £2.5m

Glint Pay raises £2.5m

Glint Pay, a London-based fintech startup that enables users to store, spend and save their wealth in gold, has secured £2.5 million in funding.

The firm raised £1.25 million through private investment, with the remaining £1.25 million matched through the UK government's Future Fund.

Glint plans to use the money to build up its customer base from around 100,000 downloads to nearly 140,000. The firm is also promoting its recently launched peer-to-peer feature, Glint It!, which lets users instantly send and receive money, including real, spendable gold.

Jason Cozens, CEO, Glint Pay, says: "After last year’s expansion into the US and the launch of our P2P offering, Glint It!, we’re eager to tackle the next stage of our growth and meet our ambitious targets over the next 12 months."

The funding comes a little over a year after Glint went into administration for a couple of months before managing to raise the £5.7 million it needed to exit the process and begin unfreezing customer accounts.

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