After a frustrating experience selling family jewelry to cover medical bills, Newtown’s Brandon Aversano founded Alloy to bring transparency to the gold-buying industry, writes Holly Quinn for Technical.ly.

Facing a cancer diagnosis at 30, Aversano brought his late grandmother’s jewelry to Jeweler’s Row to offset his treatment expenses. But the experience, however, was “absolutely horrific,” as he was offered low prices with no insight into how they were calculated.

“I was having this problem in possibly the most vulnerable moment in my life,” he said.

That experience led him to launch the Newtown-based fintech in 2023, focused on buying gold jewelry and other precious metals from consumers online. Aversano paired a technology-driven platform with clear upfront pricing and robust customer support, providing a transparent alternative to the flashy “Cash for Gold” signs.

“We did the most we possibly could to pay customers the most that we possibly could, and still be able to run a viable business,” said Aversano.

The startup, which raised $3 million since its inception, starting with a friends-and-family round, has proven successful, with revenues over doubling in its first full year. This upward trend is expected to continue, with projected revenues exceeding $20 million this year.

Read more about Alloy and Newtown’s Brandon Aversano’s work to make the gold-buying industry more transparent in Technical.ly.

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