South African fintech startup, Troygold, has secured an undisclosed round of investment from Crossfin Ventures to scale its operations. Crossfin ventures is an angel investment arm of Crossfin Technology Holdings.
Via a gold-backed MasterCard and a mobile application, Troygold allows gold owners to digitize physical gold and use it for everyday transactions. Consumers can buy, sell, borrow and spend against their gold.
The company provides customers with a free gold savings account and a Mastercard-backed gold debit card that allows them to buy products and services at any of the 40 million MasterCard-accepting stores around the world.