Malaysia-based Fintech Investment platform, HelloGold, has been successful in securing its Series A funding.
Established in 2015, HelloGold has also made a mark as one of Malaysia’s first Fintech companies, allowing users to purchase investment-grade gold for a fraction of a dollar. In March, the company were among the winners of Malaysia’s first Fintech awards[1], securing the nomination and award for Prominent in Wealth, Asset & Investment Management of the Year.
The company is migrating the platform to Ethereum smart contracts in the second half of 2018 to enable greater transparency and security of gold transactions, and in January of this year launched GOLDX, a Shariah-compliant, Ethereum ERC20 token which is backed by 99.9% investment-grade gold. This works using smart contracts to digitise gold and makes it exchangeable outside the HelloGold platform, allowing users to purchase gold on any cryptocurrency exchange that offers trading of the token.
HelloGold has since gained the attention of a major name in Venture Capital within Silicon Valley, securing Series A funding from venture capital firm, 500 Startups. The funding will be used for the integration and testing of blockchain elements on the HelloGold mobile app
Robin Lee, the CEO and Co-founder of HelloGold expressed excitement and confidence in the support and partnership:
“We’re honoured to have 500 Startups support HelloGold as we use blockchain to reduce barriers and accelerate access to more affordable financial products in Asia. By integrating blockchain into the HelloGold platform, customers will benefit from greater transparency, better security, and greater flexibility.”
Offering broad appeal for grass-roots investors, Lee is confident that HelloGold and its blockchain technology have the potential to grow as demand increases:
“In addition to providing customers with more options and freedom beyond cash, blockchain will
