Two former Royal Mint executives have secured over £500,000 in equity funding to support the roll-out of Goldwise, a Wales-based fintech touting a mobile app for savers and investors to buy, manage and sell fractional physical gold, silver, platinum and palladium.
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The investment includes £250,000 from the Wales Angel Co-Fund, managed by Angels Invest Wales, alongside £255,000 from a syndicate of business angels.
Launched by Gareth Tucker, former head of direct-to-consumer at The Royal Mint, and Jatin Patel, former head of wealth management at The Royal Mint, Goldwise has built a precious metals trading platform to allow savers and investors to trade fractional amounts of allocated, vaulted physical precious metals including gold, silver, platinum and palladium.
The platform covers customer onboarding, institutional pricing & execution, payments, allocation & custody and recordkeeping that connects directly to the global precious metals ecosystem. The technology enables fractional trading of LBMA-approved bullion, from as little as £5, with 24/7 access, set conditional orders and real-time portfolio tracking.
Alongside the retail Goldwise app, the firm has also launched GoldwiseConnect, a precious-metals-as-a-service infrastructure that enables wealth platforms and financial institutions to embed physical precious metals tradinginto their own services without needing to build complex trading and custody infrastructure.
Gareth Tucker says: “Investing in most asset classes has become simple, digital and accessible – but physical precious metals have been left behind. Customers still face outdated buying experiences, marked-up pricing and limited trading functionality. Goldwise was built to change that, making precious metals investing easy, secure and efficient for all.”
He says the funding is being used to support the UK market launch of the platform and underpin its next phase of growth, focusing on product rollout, customer acquisition and performance over the next 12 to 15 months ahead of a further planned round of funding designed to scale the business into Europe and globally.