FinLab AG makes seven-figure investment in bitcoin/gold platform Vaultoro
Frankfurt-based fintech VC FinLab AG announced today a seven-figure investment deal into Vaultoro Limited, the London-based real-time trading platform for gold and bitcoin.
Vaultoro enables anyone to trade into allocated gold instantly and secure that gold in a professional top-tier audited and insured vaulting facility based in Zurich, Switzerland.
Vaultoro will invest these new resources to expand its bitcoin/gold platform into a multi-asset platform, which will include the addition of silver, EUR/Gold, plus several additional cryptocurrencies including Ethereum (ETH).
Going forward, Vaultoro will speed up development of its highly anticipated account debit card feature and also invest in additional team members and increase its marketing budget. Vaultoro aims to be an asset-based security solution that enables people to not only secure their wealth in tangible hard assets like gold and silver but also blockchain financial assets.
Mr. Stefan Schütze, LL.M., CEO & Head of Investments, FinLab AG said:
“We are excited about Vaultoro’s innovative real-time trading platform, that allows people from all over the world to trade and invest instantly into physical allocated gold, currently via their bitcoin savings and with other currencies like Euro in the near future.”
“We are looking forward to support the ambitious Vaultoro team with our know-how, network and financial resources in order to develop Vaultoro into a leading multi-asset exchange platform.”
Vaultoro is the fastest and most cost-effective way in the world to open a Swiss vaulting contract and buy physical allocations of gold against bitcoin. This enables anyone to secure their savings outside of the banking system without losing liquidity.
Vaultoro’s mission is to allow anyone save and trade gold and bitcoin but also to easily spend it in any national currency down to the cent using an internet vaulting app, and a gold backed debit card.
The innovative asset platform pushes banking possibilities to the next level, enabling everyone from the unbanked in developing countries, to high net-worth individuals in the western world, the opportunity to trade and own investment grade allocated gold, anytime, anywhere.
Vaultoro co-founder, Joshua Scigala stated:
“With investment from a serious, fintech focused VC like FinLab, we can materialize our vision and mission a lot faster by rolling out technology over the coming months; technology that we have been building behind the scenes since our foundation.”
“This includes the world’s first real-time gold based debit card so that anyone can save in allocated bullion and spend it anywhere credit cards are accepted.”
This past Spring, Vaultoro graduated from Techstar’s 2017 Berlin program, an accelerator program, which empowers entrepreneurs to bring new technologies to the market. Thus, Vaultoro was given the opportunity to connect with community leaders, founders, mentors, investors and corporate partners to facilitate innovation.
