The brand is present on the financial services segment – lending, foreign exchange, money transfer and jewelry retail & electronics, ending 2023 with a total 109 agencies countrywide after opening 19 units during 2023.
The MoneyGold brand is operated by three distinct entities, namely, Invest Intermed GF IFN, Invest Intermed Gold and Teilor Invest Exchange, part of Teilor Holding SA. Invest Intermed GF IFN is known for its lending services based on pledge with dispossession, Invest Intermed Gold specializes in selling gold jewelry, and Teilor Invest Exchange provides foreign exchange and money transfer services.
MoneyGold targets a 25% increase in the asset portfolio on the lending segment in 2024, seeking to also launch an online retail platform for jewelry and electronics, according to Narcis Stan, CEO of MoneyGold. Its 2024 budget envisages an increase of 25-30% in turnover and of 30-35% in net profit compared to 2023.
The MoneyGold network comprises 109 agencies in 44 localities from 26 counties in Romania. Of the 19 locations opened in 2023, five are located in new cities and towns, such as Brasov, Caracal, Galati, Pucioasa andi Sfantu Gheorghe, and the remaining 14 agencies were inaugurated in the localities in which the company was already operating. Currently, Arges County hosts the most extensive chain, with 19 units, being followed by capital city Bucharest, with 12 units, Dolj County, with nine units, Dambovita County (eight units), and the counties of Buzau and Prahova, each with seven locations.
In 2023, besides investing in growing its network, MoneyGold also invested RON1.3 million to enhance customer experience and the company’s internal processes.
Teilor Invest Exchange recorded more than 1.1 million foreign exchange transactions in 2023 and sales on this segment grew by 18% year-over-year in 2023. The money transfer segment advanced 8% in 2023 versus 2022.