Scottsdale, Ariz., June 13, 2018—Monetary Metals® announces the close of its second equity capital round, bringing the total raised to $1.5 million. The company has been raising money from individual high net worth investors globally. It will use the proceeds to elevate its profile and continue to hit its milestones.
Monetary Metals has a unique model: to provide a transparent marketplace where savers earn interest on their gold, and businesses obtain user-friendly gold financing. People have not been able to earn gold interest on their gold since 1933. They have been paying to vault it. Companies that work with gold have long turned to banks for financing, but the bank model is complex and subject to rising compliance costs. The banks have been pulling back.
“It’s a great time to grow this business,” said Keith Weiner, CEO of Monetary Metals. “Investors need yield, and gold-using businesses need financing. Banks are not serving either customer well,” he added.
Monetary Metals‘ market analysis and proprietary charts, including the gold forward rate, are followed by gold investors and gold-using business. The company’s content is widely syndicated on gold, alternative investing, and mainstream sites.