Australian Fintech Secures Funding

SendGold, Asia-Pacific's award-winning, peer-to-peer Digital Gold Money platform, has secured investment from EL&C Baillieu, one of Australia's leading wealth management firms. SendGold is also crowdfunding on Birchal until December 19.

SendGold is pleased to announce that it has received investment from several Melbourne-based family offices led by EL&C Baillieu. This investment is part of a pre-Series A round which also includes a crowd-sourced funding (CSF) offer open until December 19 on leading crowdfunding platform Birchal. The CSF is already overfunded, attracting 200+ investors from Australia, the U.S., the U.K. and Asia. SendGold intends to undertake a Series A funding round in 2020.

"In my opinion, fiat currencies are faith documents; cryptocurrencies are faith data signals," stated Andrew Hellier, EL&C Baillieu. "However with simple commodity exchange in the palm of your hand, based on 100% physical gold, SendGold may just be onto something."

Funds raised will be used to drive global expansion and transaction volumes to meet the company's ambitious goals. Just this week SendGold went live in the United Arab Emirates, the centre of gold trading throughout the Middle East region. SendGold has secured several distribution partners and is now live in 13 countries, including Australia, the U.S., India and China.

Jodi Stanton, SendGold CEO said, "More and more, the penny is dropping for consumers as it has been for sophisticated investors. EL&C Baillieu has been through every market high and low from as far back as 1889. We are early in this massive journey, and we are delighted to have such a prestigious, Australian wealth management firm in our corner."

Hellier continued, "If the engine of FinTech disruption is technology, the fuel of FinTech disruption is the growing customer awareness of unjustifiable intermediary costs. Good ideas always find an audience."