Goldtag raises $10M in funding at a $50M valuation

Digital asset developer Goldtag has raised $10M in funding at a $50M valuation in a Series A round led by RePie Portföy, with participation from Turkcell, Colendi, Finberg and Inveo Portföy. With the new investment, the startup will accelerate tokenization and its Middle East expansion. Goldtag was also among the startups that pitched at the fifth-term Demo Day of the Lonca Entrepreneurship Center in 2020.

Using blockchain technology, Goldtag enables the buying and selling of precious metals such as gold, silver and platinum, and integrates its system into different platforms. Having grown tenfold since its $1.1M seed round in November 2023, the company now processes over 1 million transactions a month for 2.2 million users.

The company operates integrated with Paycell, MoneyPay, Hepsipay, Papara, AhlPay and PeP. Users can also buy and sell gold, silver and platinum through Goldtag’s mobile app. Beyond precious-metal trading, Goldtag’s mobile app lets users create digital events such as weddings, birthdays or gold days to collect valuable contributions like gold from friends. Goldtag also lets users invest in gold with amounts as small as 1 lira.

Users can convert their gold at the current rate and transfer the TL equivalent to their own bank account 24/7. If they wish, they can keep saving in different units such as quarter, half, full and gram.

Goldtag Co-Founder and CEO Dolunay Sabuncuoğlu made the following remarks:

With this investment we will bring our tokenization infrastructure online and expand access to alternative assets in a scalable, regulation-compliant way. Going beyond precious metals, we aim to also give our users access to alternative investment products such as agricultural commodities (wheat, barley, corn), energy products (oil, natural gas, electricity), metals (copper, aluminum, iron) and solar power plants.

RePie Portföy General Manager Altuğ Dayıoğlu made the following statement:

We continue our leading role in the startup ecosystem with selective investments. For RePie Portföy, technology-driven financial access and regulatory compliance are two core pillars. Goldtag makes a difference on exactly these two axes. It scales with the power of integration and builds a sustainable market with compliance standards. With the new investment we will support its growth in both Turkey and the Middle East.

Sabuncuoğlu, who noted that the company aims to expand into the MENA region in 2026, announced that they have agreed with 2 unicorn companies in the Middle East market. According to Sabuncuoğlu, integration work also continues with 8 companies from the banking, e-commerce and securities sectors. Once these are completed, the company will gain access to a potential pool of 40 million users. Goldtag’s goal is to push its active user count above 5 million in 2026. In addition, Goldtag is working on an experience that will let users physically withdraw the precious metals they own digitally.

Source: BloombergHT