Acies Ventures, a division of Acies Consulting, today announced it has invested in UK fintech start up Goldex, the world’s first smart trading mobile-based app that powers ethical pricing for buying and selling physical gold.
The investment provides additional capital for the startup as well as support for possible expansion into India. The strategic partnership by Acies Consulting was led by Muzammil Patel (Managing Director and Head – Strategy) and Rahul Murthi (Executive Director and Head – Acies Ventures).
Rahul Murthi says: “We found that Goldex has an immaculate leadership team, technology and thought process to revolutionise the way gold investments are made. It furthers the goal of market transparency and market infrastructure creation. Acies Ventures is focused on making investments that can help revolutionise market infrastructure.”
Others who participated in this recent funding round with Goldex of GBP 1.2 million include prominent angel investors, VCs, and players in the financial services and the metals and mining space.
The proceeds have been used to enhance the Goldex app (launched in the UK in July 2018) and gold card offerings, increase its B2B business proposition and expand its business across other geographies. Goldex sees India as a key growth market and is in the process of aligning its technology with the needs of the market.
Sylvia Carrasco (CEO – Goldex Technologies Ltd.): “We are already in conversations towards our Series A round early next year. We are excited to be able to continue with our journey and vision to become the consolidated marketplace where gold investors always get the best deals.”