Gaucho Group Holdings Introduces Fintech Division "GOAL"

Gaucho Group Holdings, Inc. (NASDAQ: VINO) has launched a new fintech division named Gaucho Open Asset Lending ("GOAL"). This division aims to provide self-financing options for the buyers of its luxury vineyard real estate project, Algodon Wine Estates. GOAL will offer 10, 15, and 20-year mortgage terms, making over 400 vineyard estate lots more accessible. The company estimates potential revenue from these sales to be between USD 80 - 100 million, excluding future appreciation.

GOAL's introduction also positions Gaucho Holdings to disrupt the lending sector in Argentina. Traditional mortgage options are largely unavailable in the country. The company plans to launch an app targeting urban centers such as Buenos Aires, Córdoba, Mendoza, and Rosario, aiming to reach 46 million Argentines.

CEO Scott Mathis expressed optimism about this move, suggesting that tailored financing options will diversify the company's income streams. He believes that GOAL has the potential to become larger than Gaucho Holdings' current assets.

Recent economic improvements in Argentina and the anticipated reintroduction of mortgage lending by local banks could stimulate the real estate sector, positively impacting Gaucho Holdings' ventures.