Malaysia-based Fintech Investment platform, HelloGold, has been successful in securing Series A funding.
HelloGold is Malaysia's first Fintech company allowing users to gain investment (grade - gold) at a much cheaper rate.
In March, the company were among the winners of Malaysia’s first Fintech awards, securing the nomination and award for Prominent in Wealth, Asset & Investment Management of the Year.
Since winning this award and implementing other initiatives such as smart contracts created on Ethereum helped Hello Gold to win the attention of Silicon Valley Venture Capitalists ending in Series A funding from 500 startups.
The funding will enable HelloGold to instal and integrate a mobile app that helps with testing the blockchain element of the funding platform.
“We’re honoured to have 500 Startups support HelloGold as we use blockchain to reduce barriers and accelerate access to more affordable financial products in Asia. By integrating blockchain into the HelloGold platform, customers will benefit from greater transparency, better security, and greater flexibility.”
This platform offers grassroots investors blockchain technology that has the potential to grow as the demand increases.
The prospects for HelloGold, 500 Startups, blockchain and Fintech companies in Asia are looking increasingly optimistic. Except for ICO’s, investment in Blockchain companies worldwide reached over $900 million in 2017.
“In addition to providing customers with more options and freedom beyond cash, blockchain will enable HelloGold to scale faster and have a lower cost base, allowing us to reach a wider demographic of underserved and unbanked markets. With Asia making up 71 per cent of the gold market in 2016, gold is a powerful means of wealth preservation and financial inclusion.”