BullionVault acts as a platform to buy physical gold via the net.
Gold market development organisation the World Gold Council (WGC) and growth capital fund Augmentum Capital announced today an investment in BullionVault.
The WGC and Augmentum have completed a £12.5 million funding round in the Company in exchange for an equity interest. As equal parties in the transaction, both Tim Levene, Partner at Augmentum, and Marcus Grubb, Managing Director of Investment at the WGC, will join the Board at BullionVault.
BullionVault is the market leading online gold investment platform. Based in West London and formed in 2005, it provides investors with an around‐the‐clock platform to buy and own 100% physical gold via the internet.
The 24 hour company currently cares for approximately $800 million (£540 million) of physical gold for its users, who have the option of storing their gold in secure vaults in London, New York or Zurich, or taking physical possession.
BullionVault chief executive Paul Tustain said: "With our dominant position, plus ongoing concerns about the stability of some of the world’s major economies and currencies, we have – unsurprisingly – had a lot of interest from investors. We’re delighted to be working with the World Gold Council and Augmentum, both of whom deeply understand our industry, our objectives, and our customers.”
World Gold Council managing director of investment Marcus Grubb added: “The World Gold Council has a proven track record of developing innovative solutions that provide efficient and cost‐effective access to physical gold investment. We will work together with BullionVault to further develop the physical gold investment market and to ensure that investors are able to protect their wealth by holding gold.”