Draft:SendGold

SendGold is a fintech company headquartered in Sydney, Australia allowing investors to digitally buy and sell physical gold as well as gift and send physical gold P2P across borders, using a mobile app. SendGold gold bullion is sourced from refiners certified by the London Bullion Market Association (LBMA), investors have ownership title to the gold but it is stored in secure, independent vaults in Australia on their behalf and insured by Lloyd's of London.

It is the first company in the world to create a Gold-as-a-Service platform, with a suite of Open APIs for distribution partners to integrate a gold investment and currency option into their own offering.

History
SendGold was founded in 2016 by Jodi Stanton and Mark Pey. In March 2018 it launches a ‘Gold-as-a-Service’ platform with its first customer, Global Reward Solutions.

In March 2019 SendGold re-launched its mobile app with buy, sell and gift functionality.

Business accounts were launched in June 2020 allowing authorised representatives to invest in gold bullion on behalf of their Self-Managed Superannuation Funds (SMSF), Trusts, Partnerships or Companies.

So far it has been 95% funded by US and Australian family offices and industry specialists, and 5% crowdfunded through two separate offerings. A Series A funding round was announced in June 2020.

Regulations
SendGold’s operations are regulated under Australian law and company practices are regulated by ASIC and the Commonwealth Corporations Act 2001.

Compliance with the Anti-Money Laundering and Counter-Terrorism Act is monitored by the AUSTRAC under Designated Service Number 100529055.