Goldex is delighted to name Nina Amin as an Advisor to the Board alongside the announcement that the UK India cross-border fund of Unicorn India, the Unicorn Ascension fund (UAF), has made its seventh investment to date in the UK-based gold marketplace platform.
Nina Amin, MBE, is the Chair of the UAF Investment Committee. She has over three decades of experience in accountancy and has held leadership positions for the last 15 years. Nina was previously a Consultant with KPMG UK until 31st January 2019, and was a Partner and Head of Asian Markets with KPMG UK up until the end of January, 2018. Currently, she’s a Non-Executive Director of an AIM Listed e-commerce company focused on India. She was awarded an MBE in 2013 for services to the Asian business community and is also the President of TiE London, a global non-profit organisation supporting entrepreneurs across multiple geographies.
“I’m thrilled to join Goldex as an Advisor to their Board at a time when technology is advancing at an unprecedented rate,” Nina commented. “Immediately upon meeting Sylvia, I could see the potential of Goldex and how it can service the global ecosystem of gold investment by digitising every step of the marketplace. Her enthusiasm and vision for the future of gold trading was infectious and I believe Goldex will play a pivotal part in modernising traditional gold purchasing. I was impressed by Sylvia, particularly as a female entrepreneur in what is a very competitive, male-dominated and demanding environment, which is why I’m excited to build on the partnership and lend my full support to her efforts in launching the project in India.”
The Unicorn Ascension Fund (UAF) was set up in 2018, and Goldex marks the investment fund’s seventh venture as it aims to invest in UK-based startups looking to enter the Indian market. Existing portfolio of the fund includes Recruitment Smart, Supply Compass, Libryo, Welendus, iDefigo, and Moteefe, with the fund focusing on Pre-Series A stage startups, building products and services relevant to the Indian market.
“Goldex is an interesting proposition for Unicorn because it is the first marketplace of its kind without owning any proprietary gold,” commented Bhaskar Majumdar, Partner of the UAF. “The fact that it acts as a neutral price finder we think is a significant USP and we’re looking forward to working in partnership with Sylvia as Goldex aims to establishes itself as a provider in the Indian market.”
Sylvia Carrasco, the founder and CEO of Goldex, commented: “I’m very happy to welcome Nina to Goldex and work alongside her as not only one of the top Indian business leaders in the UK, but also a prominent champion for female entrepreneurs. From my perspective, the partnership is a perfect fit as India is the next natural step of progression for Goldex and working in tandem with the UAF will help us to service the expansion from the UK to India where their expertise and insight will be invaluable.”
The investment comes at a time when gold prices are reaching all-time highs and garnering more and more mainstream media attention as geopolitical tensions show no sign of abating. Gold remains a popular mode of investments in India, with fintech companies such as PhonePe, Paytm and Google Pay entering the gold investments space in the region over the past few years.
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Important disclaimer: this document is not an official research report and the views expressed in it are those of the authors. The authors are not registered research analysts and there is no assurance the trends mentioned will continue or that the forecasts discussed will be realised. Gold as a commodity is not a specified investment for the purpose of giving advice under the Financial Services and Markets Act 2000, therefore, this does not give rise to rights to claim compensation under the Financial Services Compensation Scheme.