For this week’s interview, we spoke with Amari Groß, one of the co-founders of Goldie Tech, a startup aiming to revolutionise the world of gold ownership. Amari’s entrepreneurial journey began after a successful career in professional soccer, where he played for renowned teams such as PSV Eindhoven and DC United. With a desire to make a lasting impact beyond the sports world, Amari delved into the startup realm, exploring various fields and gaining invaluable experiences along the way.
Founded in 2022, the Berlin-based startup is on a mission to make physical gold ownership as convenient and accessible as digital products. By leveraging the latest technology, reimagining outdated processes, and streamlining the supply chain, Goldie Tech aims to ensure that gold is always within reach, flexible, convenient, and cost-effective. Their unique approach addresses the slow-paced innovation in the industry.
Amari shares the driving forces behind their decision to embark on new endeavours in the realm of gold ownership, the challenges they faced along the way, and the unique team-building approach that has fueled Goldie Tech’s success. Join us as we gain insights into Amari’s entrepreneurial journey and the vision behind Goldie Tech’s initiatives.
Could you provide us with a walkthrough of your entrepreneurial journey that eventually led you to establish Goldies Tech?
Certainly! As one of the original three founders, I had a successful career in soccer before venturing into the startup world. I played as a defender and had the incredible opportunity to be a part of teams like PSV Eindhoven and DC United in Washington, US. It was an amazing experience, but I knew that a career in sports has its limitations.
Soon after, I delved into the startup realm, exploring various fields such as 3D printing, sharing economy, and developing social apps for patchwork families. Each endeavour provided valuable lessons and experiences that have proven immensely beneficial for my current role at Goldie. There are few things as fulfilling as combining all the knowledge and skills acquired thus far and channelling them into a meaningful and ambitious project. I am dedicated to supporting Goldie to the best of my abilities, knowing that I am working on something significant and purposeful.
What are the core functionalities of Goldie Tech and could you provide us with an overview of the company?
The company is centred around physical gold ownership and our aim is to make it just as convenient & accessible as the digital products that we are used to in our everyday lives. That is accomplished through the newest technology, re-design of old processes and streamlining of the whole supply chain. The goal is for gold to be always accessible, anywhere, flexible, convenient and cost-effective.
The aspect of how it is accessed, whether through your bank, an app, or a combination with other FinTechs, is of lesser relevance. Our technology platform is designed to be plug&play, nearly everywhere. Our impression was that there was a tad of a lack of innovation in the industry, so we decided to tackle that issue.
What drove the decision to embark on innovative endeavours in the realm of gold ownership?
I have known the people on the core team for quite some time even before Goldie. Our discussions often revolve around the prevailing economic landscape, recognising its less-than-ideal state and the potential repercussions it may have on society at large. If even a mere 10% of these assessments prove accurate, it becomes evident that there will be a significant demand for secure stores of value, and gold stands out as one of the prime contenders in this regard.
Despite the challenges and setbacks encountered along our journey, we possess a strong sense of confidence that the work we are undertaking at Goldie Tech is both meaningful and valuable.
What led to the decision to concentrate solely on gold instead of diversifying into other assets like silver?
While there are several safe assets available or let’s call them “more reliable”, such as real estate. While there are several safe assets available, such as real estate, Goldie Tech’s core expertise lies in the field of investment banking, specifically in relation to gold. This specialization has granted us a deep understanding of gold and its role within the market. Furthermore, if we go back to the real state example, it is an industry that already has seen significant innovation, while the gold sector appeared to have a greater need for comprehensive innovation. Many entities used the term “gold” without truly addressing the broader range of challenges in the industry, or by offering partial solutions. By focusing exclusively on gold, we aim to bring forth meaningful and comprehensive advancements. Additionally, the historical significance of gold across diverse cultures throughout thousands of years further solidified our decision to prioritise its innovation.
Could you provide us with insights into the challenges you have faced during your journey and how these difficulties have contributed to Goldie Tech’s growth and development?
The obstacles we have faced were many and often emerged from the most unforeseen sources, presenting us with new challenges each time. Many of these problems seemed unfixable in the heat of the moment. It was evident and straightforward that the journey ahead would be arduous. We have come to realise that many of the significant subjects of today, such as ESG and equality, which hold great importance to us, are frequently influenced or led by individuals who maybe lack the necessary technical and philosophical competence slowing down the progress of these matters.
However, looking back, it proved to be a profoundly beneficial experience for us. These experiences have provided countless opportunities for us to demonstrate our capabilities repeatedly, tackling obstacles with creativity and unity, regardless of the circumstances. Our progress was far from effortless, yet it moulded us individually and enabled our growth as a cohesive team. We advanced at an accelerating pace, constantly improving and becoming more efficient.
While building Goldie’s team what were you looking for in these individuals, and as a founder how do you manage to keep a good synergy with them
We didn’t actively build/design the team. We focused on self-improvement and treated everyone like friends. Then, we naturally came together for the right reasons, and now there’s synergy. Together, we’re so much more than the sum of individuals. Somehow, it’s visible and radiates outward.We’re incredibly thankful and happy for that. We’re delighted to be a place without struggle.
An interesting example is a team member who said, “I do freelance work for [large company ABC] from Monday to Thursday for money. On Fridays, I work with you, learn, have fun, and grow my skills. It’s like weekdays are a struggle, but Fridays are the time of my life.”
I want to say we were lucky, but that’s only half true. We constantly worked on ourselves, striving for personal improvement even before Goldie. Now we have a real mutual goal/mojo that defies description. Pragmatically, we build genuine relationships with people first, long before considering their usefulness to the company. When the time comes that we need their expertise at Goldie, we simply ask.
What is next for Goldie Tech? Where do you envision the company to be in the short- and mid-term?
Our intention moving forward is to continue striving for excellence, continuously improving, and attracting favourable opportunities as we pursue meaningful work. In doing so, we believe we will find the perfect capital partner who shares our mindset and aligns with our team. With significant prospects and customers within our reach, it’s only a matter of time before we join forces with a capital partner who is committed to solving substantial problems alongside us. We have already achieved so much, which is truly remarkable when we reflect upon it. We will persist in our current trajectory, confident that everything will fall into place in the short, medium, and, most importantly, long term.
Our journey has been a combination of fortunate circumstances and exceptional efforts. We’ve also had the privilege of collaborating with remarkable partners who have supported us along the way. While I won’t mention them by name here, they know who they are, and we are truly grateful for their support. We extend our thanks to everyone who has stood by us.