MoneyGold expands its network to over 100 locations by opening of a new agency in Brasov
MoneyGold, a financial services network – lending, currency exchange, and money transfer, part of Teilor Holding SA, announces the opening of a new agency in Brasov and thus marks a significant moment in the company’s evolution, reaching over 100 open locations nationwide. This is the first agency opened by MoneyGold in Brasov.
“The municipality of Brasov has been under our radar for a long time. It is a mature and dynamic market with a growing demographic and an audience with an appetite for financial products. Brasov represents the first stage of a larger project planned for the next two years, whose central objective is to set up at least 25 stores in the country’s center. The development of MoneyGold was and is centered on four pillars – courage, trust, consistency, and perseverance. These principles govern interaction with the market in general and with our audience. The opening of our 100th agency in Brasov is more than just a number. It reflects our mission and marks another stage in our development plan for the next five years,” stated Narcis Stan, CEO of MoneyGold.
The MoneyGold brand is operated by two distinct entities, Invest Intermed GF IFN and Teilor Invest Exchange, both part of Teilor Holding SA, a Romanian entrepreneurial business with corporate bonds listed on the Bucharest Stock Exchange. Invest Intermed GF IFN is known for its secured pledged loan financing services exclusively for individuals, while Teilor Invest Exchange offers currency exchange and money transfer services.
Founded in 2003 in Pitesti, MoneyGold has experienced exponential growth in the last two years, particularly following the capital infusion raised in November 2021 during Teilor Holding’s corporate bond offering. In 2022, the group opened 13 agencies, and in 2023 plans to expand the network with 25 new locations. To date, including the agency in Brasov, the company has opened 12 new agencies this year, and another 13 are in various stages of implementation in locations already contracted in cities such as Brasov, Sibiu, Iasi, Constanta, or Arad. Thus, by the end of this year, the company estimates that the network will end up operating in 114 locations.
The agency in Brasov, with an area of 88 sqm, represents an investment of approximately 80,000 euros and includes the company’s entire range of services, collateral-based lending for gold and electronics, currency exchange, money transfer, and retail of jewelry and electronics. MoneyGold has agencies in 28 counties in Romania and over 300 employees.
Since its inception, MoneyGold has processed over 10 million transactions across all services and products, of which more than 1.2 million transactions in 2023 as of the end of August. The consistent business dynamic is also the result of the periodic diversification of the services and products provided. In January 2022, the company also introduced an electronic equipment pledge for the lending segment, retailing gold jewelry and electronic products.
The company’s management estimates that in 2023, MoneyGold will generate a consolidated turnover of over 135 million lei, up 34% compared to the previous year. The financing granted for the current year will exceed 300 million lei, with an active portfolio at the end of the year of over 110 million lei.
In November 2021, Teilor Holding SA carried out two private placements, one in euro and one in lei, raising 45 million lei from BVB investors, the largest private placement for corporate bonds on the AeRO market of the Bucharest Stock Exchange. The two bond issues, in euro and lei, are traded on this market as of December 21st, 2021, under the stock market symbols TEI26 and TEI26E.
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About MoneyGold
MoneyGold is a leading financial brand operating under Teilor Holding S.A., a group with corporate bonds listed on the Bucharest Stock Exchange. The brand encompasses two distinct entities: Invest Intermed GF IFN and Teilor Invest Exchange. Invest Intermed GF IFN offers dedicated pledged loan financing services exclusively for individuals. Concurrently, Teilor Invest Exchange, established in 2012, focuses on exchange and money transfer activities. Together, through an expansive network of agencies, MoneyGold commands a significant presence across Romania with a total of over 100 locations, delivering both financing solutions and currency exchange services to cater to the multifaceted demands of its clients.