Funding Allows Glint to Embark on U.S. Expansion, Giving U.S. Clients
Ability to Buy, Sell and Transact in Gold Via the Glint MasterCard and
App
LONDON–(BUSINESS WIRE)–Glint
Pay Inc (glintpay.com),
the first-mover company that enables physical gold to make instant
payments using a debit Mastercard, today announces the completion of a
private placement of £5 Million in London-based parent Glint Pay Ltd
(“Glint” or the “Company”). The financing was led by Sprott, an
alternative asset manager and a global leader in precious metal and real
asset investments, with approximately $8 billion in assets under
management.
Founded in the UK in 2016, Glint established the first app based account
in February 2018 that gave clients in Europe a low cost way to buy, sell
and save physically allocated gold and for the first time instantly
spend it via the Glint Mastercard anywhere in the world Mastercard is
accepted. It then added multiple currency wallets, including USD, GBP
and EUR, in July 2018. The Company is currently working on its launch
into the US. The Dollar and the Pound have both lost more than 85% of
their purchasing power over the last 50 years whereas gold’s purchasing
power has increased by over 470%. Glint’s transactional gold currency
account offers users the ultimate form of money, insulating them from
the destructive effects of inflation and protecting them from the
systemic risk of future global financial crisis.
Jason Cozens, Founder & CEO of Glint said: “Sprott is a leader in the
gold industry and are best-in-class investment specialists for precious
metals and real assets investment strategies. This financing provides
the Company with the financial resources to launch in the USA and bring
our gold-based debit card and personal gold standard to all U.S.
consumers.” Cozens continued: “Sprott’s investment and partnership is
both a validation of Glint’s platform and demonstrates gold’s important
role within the 21st century’s global monetary system.”
Sprott becomes one of the Company’s most prominent shareholders, joining
a number of existing investors and new High Net Worth individuals in the
U.S. and Europe, who have participated in the Private Placement, to
bring the total invested to £5 Million.
Peter Grosskopf, CEO of Sprott, explains the rationale for the
investment in Glint: “Sprott is committed to being at the forefront of
innovation in the gold market by supporting initiatives that make gold
quicker, easier and more cost effective to use as a means of paying for
goods and services. The Glint Mastercard and its physically-backed
storage account are groundbreaking technologies and Sprott is pleased to
participate in the launch of Glint.”
About Glint
Glint is a FinTech business operating a multi-currency account and debit
card that uniquely enables gold to be used as money. Its vision is a
world where everyone has an equal opportunity to prosper. Glint is on a
mission to provide everyone with a reliable form of money. Glint, in
partnership with Mastercard, enables clients to save, exchange and spend
physically allocated gold, and other currencies, anywhere in the world
where Mastercard is accepted. Glint’s clients know their gold is secured
in a Brinks Vault in Switzerland and insured by Lloyds of London. Gold,
and all currencies purchased via Glint, are in safeguarded and
segregated accounts. Already available in Europe, Glint started issuing
its debit card to clients in February 2018 and is set to launch in
Canada, Japan, Scandinavia, and the USA in 2019. The Company has tens of
thousands of clients and operates primarily through Glint Pay Ltd, Glint
Pay Inc., Glint Pay UK Ltd and Glint Pay Services Ltd. Gold is the
world’s alternative to government-controlled paper money and is a secure
and globally accepted form of payment. Glint is a tangible alternative
to cryptocurrencies, because it allows access to physical gold and
permits instant gold-based purchases. Glint interacts with the global
banking system and is a form of instantaneous payment for goods and
services.
About Sprott
Sprott is an alternative asset manager and a global leader in precious
metal and real asset investments. Through its subsidiaries in Canada,
the US and Asia, the Corporation is dedicated to providing investors
with best-in-class investment strategies that include Exchange Listed
Products, Lending, Managed Equities and Brokerage. Sprott is based in
Toronto with offices in New York, Carlsbad and Vancouver and its common
shares are listed on the Toronto Stock Exchange under the symbol
(TSX:SII). For more information, please visit www.sprott.com.
Related Links
www.glintpay.com
www.sprott.com
Channels for Release
https://www.globenewswire.com
https://www.cryptocurrencywire.com/
https://www.prnewswire.com/
Contacts
For media and other enquiries:
Kelly McCabe
Head of Marketing, North America – Glint Pay Inc.
[email protected]
Glen Williams
Managing Director, Investor Relations & Corporate
Communications
[email protected]
