Ex-Royal Mint executives secure angel backing to launch precious metals fintech

Daniel Bevan - Editor

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Two former executives from The Royal Mint have raised more than £500,000 in equity funding to launch a new fintech venture aimed at modernising access to physical precious metals.

Cardiff-based startup Goldwise has secured a total of £505,000 in backing as it prepares to roll out a mobile-first platform allowing users to buy, manage and sell fractional amounts of physical gold, silver, platinum and palladium.

The funding round includes £250,000 from the Wales Angel Co-Fund, managed by Angels Invest Wales, alongside £255,000 from a syndicate of private investors led by financial services veteran SV Rangan.

The company was founded by Gareth Tucker, formerly Head of Direct-to-Consumer at The Royal Mint, and Jatin Patel, who previously served as Head of Wealth Management at the organisation.

The pair have developed what they describe as an enterprise-grade trading platform designed to simplify access to allocated, vaulted precious metals for both retail savers and institutional investors.

The fresh capital will support Goldwise’s UK launch and its next phase of growth, with a focus on product rollout, customer acquisition and performance over the next 12 to 15 months.

The business is also planning a further funding round to support expansion into European and global markets.

Goldwise is positioning itself at the intersection of fintech and traditional safe-haven assets, targeting a share of the global precious metals market, which is valued at more than £5 trillion.

At the centre of its offering is the proprietary “Goldwise Engine”, which integrates onboarding, pricing and execution, payments, custody and recordkeeping into a single platform connected to the global precious metals ecosystem.

The technology enables users to trade fractional amounts of LBMA-approved bullion from as little as £5, with 24/7 access, conditional orders and real-time portfolio tracking.

Gareth Tucker said: “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“Customers still face outdated buying experiences, marked-up pricing and limited trading functionality.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.

“Goldwise has been built from the ground up as trading infrastructure rather than e-commerce.

“This funding allows us to launch into the UK market with confidence, establish strong customer acquisition foundations and demonstrate the robustness of our model ahead of our next phase of expansion.”

Jatin Patel added: “During my time building and launching wealth management businesses and investment products, including The Royal Mint’s gold ETC it became clear that both retail investors and wealth platforms want direct exposure to physical precious metals delivered through modern infrastructure that is easy, secure and efficient.

“Goldwise combines institutional pricing, execution and custody through a single scalable platform.

“We believe this creates a compelling proposition for individual savers and for wealth firms looking to embed physical metals trading without needing to build complex infrastructure themselves.”

Lead investor SV Rangan said: “The founders bring a rare combination of domain expertise and proven execution in the precious metals sector.

“They understand both the retail and institutional sides of the market and have built a platform designed for scale from day one.

“What attracted the syndicate members and me to Goldwise is the focus on core infrastructure, the clarity of the business model and the opportunity to integrate into a much wider wealth management ecosystem over time. If paced correctly, the potential here is significant.”

Tom Preene, Fund Manager at Angels Invest Wales, added: “Gareth and Jatin have already demonstrated their ability to build and scale precious metals propositions within a regulated, institutional environment.

“Through the Wales Angel Co-Fund, we are pleased to match private angel investment to support ambitious Welsh fintech founders with global aspirations.

“The participation of an experienced lead investor such as SV Rangan brings additional expertise and credibility to the business as it enters the market.

“This is a strong example of how the Angels Invest Wales ecosystem can mobilise both capital and capability to support the next generation of financial technology businesses in Wales.”

The £11 million Wales Angel Co-Investment Fund provides equity investments ranging from £25,000 to £350,000 and is available to syndicates backing small and medium-sized enterprises based in Wales.