{"id":82731,"date":"2020-12-17T10:13:40","date_gmt":"2020-12-17T08:13:40","guid":{"rendered":"https:\/\/www.tehnopol.ee\/?p=82731"},"modified":"2020-12-17T12:14:54","modified_gmt":"2020-12-17T10:14:54","slug":"estonian-precious-metal-company-aufort-is-building-a-gold-bank","status":"publish","type":"post","link":"https:\/\/www.tehnopol.ee\/en\/estonian-precious-metal-company-aufort-is-building-a-gold-bank\/","title":{"rendered":"Estonian precious metal company Aufort is building a gold bank"},"content":{"rendered":"
\"Illustreeriv<\/figure>\n\n\n\n

The price of gold reached record levels in the summer, exceeding 2,000 dollars per ounce. We are proud to announce that with the support of Tehnopol Startup Incubators vigorous growth program an Estonian company Aufort raised 200,000 Euros through private crowdfunding in order to become an innovative gold bank enabling customers to make transfers and payments in gold.<\/strong><\/p>\n\n\n\n

According\nto Bert-Ken Raudberg, founder of Aufort, the increase in the price of gold has\nbeen caused by the massive additional printing of money globally and the fear\nof inflation accompanying it. This shall be coupled with an increase in the\nprice of most products and services, including gold and silver. <\/p>\n\n\n\n

\u201cGold\ncontinues to be a safe option in today\u2019s uncertain economic situation in which\nto invest one\u2019s money and I predict that its price has not yet reached its peak\nof the coming years,\u201d said Raudberg. \u201cThe current year has had a\nhighly positive impact on us. The interest of the Estonian people in gold, and\nalso in silver, has increased noticeably, leading to a considerable growth in\nclients and turnover.<\/p>\n\n\n\n

Within\na year, Aufort\u2019s turnover has more than tripled to 350,000 Euros. Aufort also\nrecently laid the foundation for a new fintech platform that combines gold with\nblockchain technology and an e-commerce platform. The company plans to reach\ntens of thousands of users in the coming years. <\/p>\n\n\n\n

\u201cOur vision is to bring gold back into widespread use and grow into a next generation gold bank that offers people the opportunity to trade in gold, take out gold backed loans, deposit gold in order to earn interest on it, and to use gold for making transfers and payments,\u201d said Raudberg. \u201cThe main difference compared to a conventional bank is that all transactions are based on gold and the platform is built on a secure and transparent decentralised blockchain technology. This is profitable for the client as in the long term, the price of gold will only increase, but the Euro will become cheaper due to inflation.\u201d<\/p>\n\n\n\n

The\nvision of a next generation gold bank led Aufort to the Tehnopol Startup\nIncubator accelerator this autumn. In November, the company raised 200,000\nEuros from 61 investors through private crowdfunding, directing the investment\ninto the development of a new product and platform. The lead investor in the\nprocess was the well-known blockchain technology and cryptocurrency expert,\nAsse Sauga. <\/p>\n\n\n\n

\u201cThe\ncrowdfunding round was significantly more successful than expected \u2013 we\nachieved the target of the planned campaign in only 9 days instead of 21. We\nhave decided that we will conduct a second round of financing next year already,\nas the number of investors was greater than could be accepted. The additional\nfinancing will allow the expansion within Europe and entry into the African\nmarket. We are certain that a year from now, investor interest will continue to\nbe high, as the technology used and the solution currently in development will\ncreate significant additional value to the client,\u201d added Raudberg.<\/p>\n\n\n\n

The\nnext investment round is planned to take place in autumn 2021 with a goal to\nraise up to one million Euros.<\/p>\n\n\n\n

In\nthe seven years of its operation, Aufort has sold almost 113,000 grams of gold\nand silver, created exclusive gift solutions, and served thousands of clients\nin Estonia. The name of the new trademark \u2013 Aufort \u2013 is derived from two words:\nAu is gold, and fort, which means \u2018golden fort\u2019 when put together.<\/p>\n","protected":false},"excerpt":{"rendered":"

The price of gold reached record levels in the summer, exceeding 2,000 dollars per ounce. We are proud to announce that with the support of Tehnopol Startup Incubators vigorous growth program an Estonian company Aufort raised 200,000 Euros through private crowdfunding in order to become an innovative gold bank enabling customers to make transfers and […]<\/p>\n","protected":false},"author":31,"featured_media":82728,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_s2mail":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-82731","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.tehnopol.ee\/en\/wp-json\/wp\/v2\/posts\/82731","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.tehnopol.ee\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tehnopol.ee\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tehnopol.ee\/en\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tehnopol.ee\/en\/wp-json\/wp\/v2\/comments?post=82731"}],"version-history":[{"count":4,"href":"https:\/\/www.tehnopol.ee\/en\/wp-json\/wp\/v2\/posts\/82731\/revisions"}],"predecessor-version":[{"id":82751,"href":"https:\/\/www.tehnopol.ee\/en\/wp-json\/wp\/v2\/posts\/82731\/revisions\/82751"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tehnopol.ee\/en\/wp-json\/wp\/v2\/media\/82728"}],"wp:attachment":[{"href":"https:\/\/www.tehnopol.ee\/en\/wp-json\/wp\/v2\/media?parent=82731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tehnopol.ee\/en\/wp-json\/wp\/v2\/categories?post=82731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tehnopol.ee\/en\/wp-json\/wp\/v2\/tags?post=82731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}