Tavex Latvia

What Tavex Latvia does

Tavex Latvia (legal entity SIA TAVEX) is a Riga-based precious metals dealer and foreign currency exchange operator founded in 1991 and serving as the Latvian arm of a pan-European Tavex Group that spans 14 countries. The company operates six physical branches in Latvia — five in Riga (Elizabete headquarters, Akropole, Alfa, Origo, Spice Life) and one in Daugavpils (Ditton) — with a seventh Mols branch closing April 1, 2026 due to mall reconstruction. Retail locations are concentrated in shopping centers and operate extended hours including weekends.

The core product set is investment-grade gold and silver bullion: gold bars and coins from 1 g to 1 kg sourced from LBMA-accredited refiners and sovereign mints including Valcambi Suisse, PAMP, Argor-Heraeus, Royal Mint, Perth Mint, Münze Österreich, and Rand Refinery, alongside Tavex's own-brand bars. Silver bars and coins follow a parallel SKU structure. Additional revenue streams include currency exchange across 50+ currencies with a flat 2 EUR commission, scrap-gold buyback priced by purity (375/9K through 999 fine), home-delivered currency for travel money, and collectible coins distributed through a dedicated sub-brand, Tavexdavanas.lv.

Revenue is earned through the bid-ask spread on bullion buy/sell transactions and per-transaction FX commissions. The technology stack is a PHP-based e-commerce site on AWS infrastructure with a customer-facing Tavex ID portfolio management system, live multi-currency gold/silver price charts, a price alert system, and a multi-currency FX calculator. Marketing combines the e-commerce storefront, email newsletter, content/blog distribution, the physical branch network, and the currency delivery service. Leadership comprises Chairman/Head of AML Andris Arhipenko, Board Member/Head of Marketing & HR Viktorija Gorcakova, and dedicated Dealing, Compliance, and Internal Audit functions, reflecting the regulated nature of bullion dealing and FX under Latvian AML/KYC law.

Name

Tavex Latvia

Legal name

SIA TAVEX

Website

https://tavex.lv

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

11–50 employees

Short description

Tavex Latvia (SIA TAVEX) is a Riga-based precious metals dealer and currency exchange operator. It sells investment gold and silver bars and coins from tier-one mints, buys back scrap gold, and provides foreign currency exchange across six Latvian retail branches.

Ownership category

akta.pro rank

Product category

Precious Metals Retail

NAICS

Jewelry Retailers (45831)

SIC

Wholesale-Jewelry, Watches, Precious Stones & Metals (5094), Retail-Jewelry Stores (5944), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Pre-owned Watch Dealers & Exchanges (CRAKAKAB)

akta.pro secondary industries

Pawn & Collateral-based Jewelry Retail (CRAKAGAL), Cross-Border & FX Payments Platforms (BPAMAFAK)

Keywords

• Precious metals trading
• Investment gold dealer
• Silver bullion sales
• Currency exchange services
• Scrap gold buyback

Headquarters

HQ city

Riga

HQ country

Latvia

HQ region

Europe

Offices7 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Precious Metals Sales: Sale of investment gold bars and coins from various mints (Valcambi Suisse, PAMP, Argor-Heraeus, Austrian Philharmonic, Australian Kangaroo, Britannia, etc.) in various weights from 1 gram to 1 kg. Margins built into spread between buy and sell prices.
2. Silver Products Sales: Sale of investment silver bars and coins. Some products subject to special VAT regime (Article 138).
3. Currency Exchange: Currency exchange services with commission fees (e.g., 2 EUR commission mentioned). Exchange rates for USD, GBP, PLN, SEK, NOK, DKK, RUB, and other currencies.
4. Precious Metals Buyback: Purchase of scrap gold jewellery and investment precious metals from customers. Prices based on purity (585/14K, 375/9K, 750/18K gold).
5. Delivery Services: Currency delivery service to customer location for travel money needs.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Tavex Latvia sells investment gold bars and coins (from 1g to 1kg) and silver bars and coins sourced from refiners such as Valcambi Suisse, PAMP, and Argor-Heraeus. It also buys back scrap gold and investment precious metals, and provides foreign currency exchange services across multiple branches with home delivery options. The Tavex ID platform enables customers to track their precious metals portfolios online.

Product overview

Tavex Latvia operates as a precious metals dealer and currency exchange, offering a unified platform for investment in gold and silver. The core offering consists of investment gold bars and coins (65+ bar products, 170+ gold coin products) and investment silver bars and coins (13+ bar products, 50+ silver coin products) from manufacturers including Valcambi Suisse, PAMP, Argor-Heraeus, and Austrian Mint. The Tavex ID platform provides online portfolio management for tracking investments. Additional services include currency exchange with branch network and home delivery, gold/silver buyback services for investment products and scrap jewelry, collectible coins via tavexdavanas.lv, live price charts, and a loyalty program. The company operates physical branches in Riga and Daugavpils, Latvia.

Differentiator

Problem solved

Functional benefit

Brands

• Tavexdavanas.lv: Online gift shop and collectible coins e-commerce platform

Products and services

• Investment Gold (Investīciju zelts)
• Investment Silver (Investīciju sudrabs)
• Currency Exchange (Valūtas maiņa)
• Gold and Silver Buyback (Zelta un sudraba uzpirkšana)
• Currency Delivery (Valūtas piegāde)
• Collectible Coins (Kolekcijas monētas)
• Loyalty Program (Lojalitātes programma)

Quantifiable outcome

• 4.8/5 customer rating based on 661 reviews
• +1 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Valcambi SuissecoreTechnology or IntegrationSwiss precious metals refinery producing gold and silver bars sold through Tavex. One of the largest and most respected Swiss precious metals refiners with LBMA accreditation.
• PAMP (Münze Österreich AG)coreTechnology or IntegrationSwiss precious metals manufacturer producing gold and silver bars including the popular Lady Fortuna and Lunar series. Tavex sells PAMP products from 1g to 100g.
• Argor-HeraeuscoreTechnology or IntegrationSwiss precious metals refinery producing gold bars sold through Tavex. LBMA certified refiner offering bars from 1g to 100g.
• Royal MintcoreTechnology or IntegrationOfficial mint of the United Kingdom producing Britannia gold and silver coins. Tavex listed as Royal Mint partner on their website.
• Perth MintcoreTechnology or IntegrationAustralian government-owned mint producing Kangaroo, Kookaburra, Koala, and Lunar series coins. Tavex sells Australian Lunar 2026 Horse series.
• Münze ÖsterreichcoreTechnology or IntegrationAustrian Mint producing the popular Philharmonic gold and silver coins. Tavex is listed partner on their website.
• Rand RefinerycoreTechnology or IntegrationSouth African gold refinery producing Krugerrand coins. Tavex listed as Rand Refinery partner.
• Bank of LatviaminorOthersLatvian regulatory and central banking institution referenced for information on gold investment principles and economic context.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Münze Österreich (Austrian Mint): Producer of the Vienna Philharmonic gold and silver coin series and an active direct-to-consumer and partner channel. Tavex is a listed partner; the mint competes in the same product category with overlapping end customers.
• APMEX: One of the largest US online precious metals retailers, selling a comprehensive catalog of gold, silver, and platinum bars and coins. Comparable to Tavex on product breadth and e-commerce scale, with a different geographic focus.
• Kitco: North American precious metals retailer and information platform offering bullion sales, live spot pricing, charts, and market news. Comparable to Tavex across retail bullion, real-time pricing, and content-driven customer acquisition.
• Perth Mint: Australian government-owned mint producing Kangaroo, Lunar, Kookaburra, and Koala series — products that Tavex distributes. Comparable as both supplier and as a competing direct-to-consumer bullion and collector coin channel.
• The Royal Mint: UK government-owned mint and a Tavex supplier; also sells Britannia coins and other investment and collector products directly to consumers online. Comparable as a primary producer/seller of investment coins that competes with Tavex at the source.

Direct peers

• GoldMoney: Digital precious metals platform offering allocated gold, silver, platinum, and palladium storage and trading with portfolio management tools. Comparable to Tavex on the investment vehicle and portfolio-tracking dimensions (analogous to Tavex ID).
• BullionVault: Online platform for buying, selling, and storing physical gold, silver, and platinum with low spreads. Comparable to Tavex on the investment bullion side, although purely digital versus Tavex's branch-based model; useful as a benchmark for pricing and digital UX.
• Degussa Goldhandel: Germany-headquartered precious metals dealer operating physical branches across Europe selling investment gold and silver bars and coins, with buyback and FX-adjacent services. Directly comparable business model and product mix to Tavex, including proprietary bar branding and store network in shopping centers.
• Goud & Zilver (GoudEnZilver.nl): Benelux precious metals dealer selling investment gold and silver bars, coins, and collector pieces through physical branches and e-commerce with buyback services. Closely comparable to Tavex in offering, customer base (individual investors), and multi-channel distribution.

Regional players

• GoldRepublic: Dutch online precious metals platform offering allocated gold, silver, and platinum with vaulted storage across Europe. Comparable to Tavex on the investment product and European distribution dimensions, with a primarily Dutch/Benelux customer base rather than the Baltics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/tavex-latvia

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

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 Tavex Latvia