HelloGold, a gold-based savings platform, announced yesterday its expansion into the Thailand market. This news comes on the heels of their recent expansion in to Africa.
Similar to its rallying call in Malaysia of investing into gold with as little as RM 1, HelloGold’s aim is to also make gold savings accessible to middle and lower income groups in Thailand with savings amount as low as 10 Baht.
For its first year in Thailand, the startup is targeting to 120,000 downloads and they intend to use their partnership with local retailer Central Group to help achieve that. Through this partnership members of the retailer’s branded card will be able to redeem gold from HelloGold using their loyalty points.
Robin Lee, Chief Executive Officer of HelloGold said,
“With the use of innovative technology, the HelloGold platform empowers the underserved and the unbanked segments by giving them access to gold and other affordable, essential financial products.
Robin further added that the average Thai saves no more than 13% of his or her income, in this space he sees tremendous opportunity to use HelloGold to provide an alternative method for Thai’s to be able to save.
He shares that HelloGold is a great product fit for the Thai market given that gold has historically been an integral part of Thai culture.
