Confinvest FL

What Confinvest FL does

Confinvest FL (legal entity CONFINVEST ORO S.p.A.) is an Italian physical gold investment operator founded in 1983 in Milan, listed on AIM Italia under the ticker CFV:IM since August 2019 (the first physical gold operator on an Italian exchange). Its core product set is the sale of 999.99-purity investment gold in the form of bars (Lingotti d'Oro) and internationally recognized coins — Sterling, Marengo, Krugerrand, US Dollar, Austrian Crown, Pesos, Marks, and other European and world issues — distributed through the confinvest.it e-commerce platform, in-store pickup at the Milan headquarters (Via della Posta 8, Piazza Affari), and a Private Banking/advisor channel. Three service-layer products extend the offering beyond spot trading: Conto Lingotto, a digital account for systematic physical gold accumulation with fractional ownership building toward full bars; Gold Plan, a subscription-based scheduled purchase program; and Confinvault, a secure custody service placing customer gold in high-security vaults at primary banking institutions. A regulated buy-back service completes the round-trip, allowing customers to sell coins and bars back to Confinvest under Article 128 TULPS inspection rules.

Underlying technology comprises a real-time gold quotation system linked to international market prices, an e-commerce checkout supporting bank transfer (via BPER Banca IBAN), Apple Pay, Google Pay, and (since 2024) credit cards, a tested-since-2020 Conto Lingotto digital account platform, and trademarked brand identities (Conto Lingotto, Confinvault, Gold Plan). The company is regulated as a professional gold operator under Banca d'Italia registration OPO348 and holds Police License P.S. 1° Distretto Milano n.5882.

Revenue is generated primarily through the spread between buy and sell prices on gold bars and coins (transaction-fee stream), recurring revenue from the Conto Lingotto / Gold Plan subscription-style accumulation product, and managed-service fees from Confinvault custody. The go-to-market is sales-led, combining direct customer engagement (phone, email, in-store at Piazza Affari) with self-serve e-commerce and a channel partner network of Private Banking institutions and financial advisors. Customer segments span individual retail investors (wealth preservation, inheritance), Private Banking / HNW clients (portfolio diversification, professional custody), and financial consultants recommending gold to their clients. Reported revenue was €27.0M in 2019 (+84% vs €14.7M in 2018). In December 2025, shareholders approved capital increases to fund the acquisition of Dierre, signaling inorganic expansion beyond the core physical gold trading business.

Name

Confinvest FL

Legal name

CONFINVEST ORO S.p.A.

Website

https://confinvest.it

Company type

Public

Founded year

1983

Operating status

Operating

Headcount range

51–100 employees

Short description

Confinvest FL is an Italian, AIM Italia-listed (CFV:IM) physical gold investment operator founded in 1983, serving retail and HNW customers in Italy through the sale of gold bars and coins, digital accumulation accounts (Conto Lingotto), and bank-vault custody (Confinvault).

Ownership category

akta.pro rank

Product category

Physical Gold Investment Services

NAICS

Jewelry Retailers (45831), Other Financial Investment Activities (5239)

SIC

Retail-Jewelry Stores (5944), Finance Services (6199)

akta.pro primary industry

Yield, Vaults & Asset Management (vault strategies, robo-vaults, structured yield) (FSAPAEAG)

akta.pro secondary industries

Retail-focused Neobanks (Mass Market) (FSABAFAA), Execution-Only / Self-Directed Investing Platforms (FSAAAAAI)

Keywords

• Physical gold investment
• Bullion trading services
• Precious metals dealer
• Gold custody services
• Gold savings account

Headquarters

HQ city

Milan

HQ country

Italy

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Gold Trading (Buy/Sell Spread): Confinvest generates revenue through the spread between buy and sell prices of gold bars and coins, with prices calculated based on daily international market quotations
2. Confinvault Custody Services: Revenue from secure physical gold custody services in high-security vaults, providing customers with safe storage alternatives to home storage
3. Gold Plan Accumulation Plans: Subscription-based systematic gold accumulation plans allowing customers to build gold holdings over time through regular payments

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Confinvest FL sells, buys back, and securely stores physical investment gold (999.99 purity bars and internationally recognized coins such as Sterlina, Marengo, Krugerrand, Dollaro USA, Corone Austria, Pesos, and Marchi) to Italian individual investors and Private Banking clients through a regulated e-commerce platform. The core offering is augmented by three proprietary services: Conto Lingotto® (digital gold accumulation account), Gold Plan (scheduled purchase accumulation plan), and Confinvault (secure custody at primary banking institution vaults).

Product overview

Confinvest FL is a physical gold investment company operating since 1983, primarily serving the Italian market with a platform-plus-services model. The core offering centers on physical gold bars (lingotti) and gold coins (monete) available for purchase through the company's e-commerce platform. Complementary services include Conto Lingotto®, a digital account for systematic gold accumulation, Gold Plan for scheduled gold purchases, and Confinvault for secure physical custody. The company also offers a buy-back service for customers wishing to sell their gold, along with daily quotation services. The product ecosystem enables investors to buy, accumulate, store, and sell physical gold through a single provider.

Differentiator

Problem solved

Functional benefit

Brands

• Conto Lingotto: An innovative digital gold savings account (Piano di Accumulo in oro fisico) launched in August 2020, allowing investors to accumulate physical gold over time with scheduled purchases.
• Confinvault
• Gold Plan

Products and services

• Lingotti d'Oro (Gold Bars) Physical 999.99 purity gold bars sold in various sizes and weights for individual and Private Banking investors; guaranteed by Confinvest for title, legitimate origin, and negotiability.
• Monete d'Oro (Gold Coins) Internationally recognized investment gold coins (Sterling, Marengo, Krugerrand, US Dollar, Austrian Crown, Pesos, Marks, and other European and world issues) sold to retail and HNW investors.
• Conto Lingotto® (Digital Gold Savings Account) Digital account platform allowing investors to systematically accumulate physical gold (999.99 purity) stored in Confinvault secure bank-vault custody, with real-time tracking and management of fractional gold positions that can build toward full bar ownership.
• Gold Plan – Piano di Accumulo in Oro Fisico Subscription-based systematic accumulation plan enabling investors to build physical gold holdings through regular scheduled contributions for dollar-cost averaging into 999.99 purity investment gold.
• Confinvault – Servizio di Custodia Oro Fisico Secure storage service for customer-owned physical gold bars and coins held in high-security vaults operated by primary banking institutions, providing insured professional custody as an alternative to home storage.
• Servizio di Vendita Oro da Investimento (Buy-Back Service) Buy-back service allowing customers to resell their physical gold to Confinvest, with assets held for inspection for 10 working days per Art. 128 TULPS before purchase price is communicated.
• Servizio Consulenti ed Intermediari Finanziari Dedicated offering for Private Banking professionals and licensed financial advisors (promotori finanziari) enabling them to integrate Confinvest's physical gold products into client wealth management portfolios via banking convention and referral channels.

Quantifiable outcome

• Revenue growth of 84% in 2019 compared to 2018 (from €14.7M to €27.0M)
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Private Banking PartnerscoreChannel Partner/ Reseller/ DistributorConfinvest works with Private Banking institutions, financial consultants, and banking conventions to distribute gold investment services. These partners recommend and facilitate gold purchases for their high-net-worth clients as part of comprehensive wealth management.
• Primary Banking Institutions (Confinvault)coreStrategic or Co-development PartnerConfinvault custody service utilizes primary banking institutions for secure storage of customer gold in high-security vaults, providing insurance coverage and professional asset protection services for physical gold holdings.
• Fondazione per l'Educazione Finanziaria e al Risparmio (FEduF)minorGTM or Marketing PartnerConfinvest is an Ordinary Participant of FEduF, supporting financial education initiatives in Italy to promote investor literacy and awareness about physical gold as a wealth preservation asset.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• JM Bullion: One of the largest US online precious-metals dealers selling gold, silver, platinum, and palladium bars and coins to retail investors — comparable product catalog and e-commerce GTM, with broader product mix and brand scale.
• APMEX: Large US-based online precious-metals retailer offering a full catalog of gold bars, coins, and storage options — comparable in product breadth and retail channel, but at materially larger scale and primarily serving the US market.

Direct peers

• BullionVault: Online wholesale gold, silver, platinum, and palladium trading platform with secure allocated vaulting — directly comparable to Confinvest's combination of self-directed bullion trading and Confinvault custodial storage.
• GoldMoney: Digital precious-metals platform enabling users to buy, sell, and store allocated physical gold and silver in professional vaults — closely mirrors Confinvest's Conto Lingotto plus Confinvault proposition.
• OneGold: Digital precious-metals platform from Sprott and RMR that allows retail users to buy, sell, and vault physical gold and silver — a direct competitor in the digital retail-gold and vault model.
• Italpreziosi: Italy-based precious metals dealer and refiner active in retail gold bars, coins, and institutional refining — overlapping with Confinvest's core retail-bullion and refining-related activities in the Italian market.

Others

• The Royal Mint: UK government-owned mint that produces official UK precious-metal coins and offers storage and trading services — an ecosystem participant that supplies and competes for premium coin demand that Confinvest distributes into Italy.
• Perth Mint: Australian precious-metals mint issuing government-guaranteed coins and operating vault and trading services — similar product-and-vault business model that competes for international investment-coin demand relevant to Confinvest's product mix.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/CONFINVEST

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Confinvest FL