Funding
Monetary Metals Completes Gold Lease Financing for Kavitha Gold and Diamonds' UAE Growth
By News Desk ·
Key takeaways
- Monetary Metals completed a gold lease financing for Kavitha Gold and Diamonds to fund its jewelry inventory expansion in the UAE.
- Kavitha, founded in 1976, operates 12 showrooms in India and 2 in Dubai and Sharjah, with further UAE expansion planned through 2027.
- Monetary Metals closed a $10.5 million equity financing round on September 22, 2026, bringing total funding to about $25 million.
Monetary Metals has completed a gold lease financing transaction for Kavitha Gold and Diamonds, LLC, funding the jeweler's inventory for its expansion in the UAE. PR Newswire announced the lease on October 27, 2026. Kavitha, founded in 1976 in South India, operates 12 showrooms across India and 2 in Dubai and Sharjah, with plans to expand across key UAE locations through 2027.
How the Kavitha Gold Lease Works
Under the lease structure, Kavitha leases physical gold rather than buying it or borrowing to buy it, so the company avoids gold price exposure and the burden of traditional debt financing. Monetary Metals said clients retain title to their metal throughout the term, and every ounce is protected by tamper-evident RFID tracking and daily inventory reporting from TJS Inc., the asset assurance company Monetary Metals recently acquired.
Keith Weiner, CEO and founder of Monetary Metals, said: "A gold lease lets them stock their new showrooms with physical gold without tying up cash or taking on price risk." Weiner added that clients put gold that would otherwise sit idle to work and earn a yield on it, paid in gold.
Prasad Thozhuthu Parambil, a director of Kavitha, said Monetary Metals was at the top of the company's list for financing options for its new Dubai showrooms. "We are excited to close this deal and look forward to doing more as we fund our expansion plans into 2027," he said.
Monetary Metals' Funding and Platform Scale
According to akta.pro company records, Monetary Metals has closed 12 funding rounds, including a $10.5 million round in September 2026, a $2.1 million round in March 2026, a $30.6 million debt-funded round in August 2024 and a $5.6 million round in June 2024 with 3 investors. The same records put total funding at $58.4 million.
| Date | Round | Amount |
|---|---|---|
| September 2026 | Series unknown | $10.5 million |
| March 2026 | Series unknown | $2.1 million |
| August 2024 | Debt-funded | $30.6 million |
| June 2024 | Series unknown | $5.6 million |
The same records list 75 funded transactions across five continents and a weighted average return in gold of 3.93% annualized across all active leases.
Monetary Metals' Earlier Gold Leases
In August 2026, Monetary Metals partnered with Bhima Jewels to lease 13,500 ounces of gold for inventory in UAE showrooms, a lease using TJS tracking that lets Bhima scale without capital constraints, PR Newswire reported. In July 2026, Monetary Metals acquired TJS USA in an all-share deal valued at $28.5 million, bringing TJS's gold asset assurance technology in-house, citybiz reported. In September 2026, Monetary Metals closed a $10.5 million equity financing round on September 22, 2026, bringing total funding to about $25 million, The SaaS News reported.
Kavitha's UAE Showroom Plans
Kavitha plans to expand its retail presence across key UAE locations through 2027, and Parambil said the company looks forward to doing more with Monetary Metals as it funds those plans into 2027.