Glint Pay, the London-based fintech, has announced that it has secured an additional £2.5m in funding to support growth plans and increase its customer base to 138,000 active users in the next 12 months.
This funding is announced after the recent launch of a peer-to-peer facility, known as Glint It!, which allows customers to instantly send or receive money, including real, spendable gold and other currencies.
Jason Cozens, Founder and CEO of Glint Pay, said: “This latest funding is another significant step towards fulfilling our growth plans. We set out to transform the industry and the amount of funding we’ve secured since launch proves that there’s real appetite amongst investors and consumers for an innovative alternative to spend, save and store their finances.
“After last year’s expansion into the US and the launch of our P2P offering, Glint It!, we’re eager to tackle the next stage of our growth and meet our ambitious targets over the next 12 months. Additional funding will help to facilitate this, but it is our diverse and exceptional leadership team that provides us with a clear, competitive edge.
“The UK government’s Future Fund has been hugely effective for many businesses and is a welcome addition to the business finance landscape, especially in the current climate. The fund is part of the government’s desire to support the UK’s most innovative companies to flourish and to drive economic growth. This fundraising will accelerate our international expansion as well as attract additional future investment sources, from both within the UK and externally.”
The fintech emphasised that £1.25m of this funding was secured through private investment, with the remaining £1.25m matched through the UK government’s Future Fund. The fund was launched to support innovative companies during the Covid-19 pandemic and matches funding raised through private investment.
