Frankfurt based FinLab AG makes seven-figure investment in Vaultoro
Frankfurt/London, September 8, 2017. FinLab AG (ISIN: DE0001218063; Ticker: A7A.GR) is set to make a seven-figure investment in London-based Fintech Vaultoro Limited, the leading real-time trading-platform for Gold and Bitcoin in the world. Vaultoro will invest these new financial resources in further expanding its Bitcoin/Gold platform into a multi-asset platform, which will include the addition of a Euro/Gold pair and several additional cryptocurrencies like Ethereum. Vaultoro will invest in additional people and increase the marketing budget to facilitate continued strong growth.
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 Bitcoins. This enables anyone to secure their savings outside of the banking system without losing liquidity. The goal is to allow anyone to hedge their savings in gold and bitcoin but spend it in any currency down to the cent using an internet vaulting app, and a gold backed Debit Card. Vaultoro enables anyone to trade into allocated gold instantly and secure that gold in a professional top-tier audited & insured vaulting facility based in Zurich, Switzerland.
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.
In spring 2017, 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.
“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”, says Vaultoro co-founder, Joshua Scigala. "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 the Euro and Ethereum in the near future”, says Stefan Schütze of Finlab. “We are looking forward to supporting the ambitious Vaultoro team with our know-how, network and financial resources in order to develop Vaultoro into a leading multi-asset exchange platform.”
About Vaultoro Ltd.: Vaultoro is a rapidly growing enterprise offering a secure alternative to traditional banking, merging gold’s long track record as a globally recognized store of value with the speed, transparency and divisibility of the Bitcoin blockchain. Vaultoro currently has over 7,500 clients from 94 countries that hold more than 12 million Euro worth of bitcoin and gold through the platform. In 2017, Vaultoro joined Techstars, one of the largest and most prestigious global investors in startups.
Press contact Vaultoro Limited:
Phone: +44 20 3389 9643
About FinLab AG: Stock market listed company FinLab AG (WKN 121806 / ISIN DE0001218063 / ticker symbol: A7A.GR) is one of the first and largest company builders and investors focused on the Financial Services Technologies (“FinTech”) sector. FinLab focuses on developing German FinTech startups and providing venture capital for their financial needs, whereby in each case the aim is a long-term participation and ongoing support of the investment. FinLab also invests globally, as part of venture rounds, in FinTech companies, primarily in the USA and Asia.
Press contact FinLab AG
Phone: +49 69 719 12 80 0