JewelStreet secures £465k from Envestors and Polygon Group to fund international expansion
The online marketplace raised the capital to recruit more customers and scale its vendor platform globally.
JewelStreet operates an online marketplace that connects independent jewellery designers with consumers, offering vendors a higher retail margin.
JewelStreet has raised £465k to scale its online customer acquisition and prepare for international expansion. The round includes £350k in equity secured via Envestors, bringing in backing from Polygon Group as lead investor.
The marketplace currently hosts thousands of products from hundreds of independent designers. Leadership intends to use the capital to drive further online sales and deploy technology power for vendor eShop sites.
Polygon Chairman Martin Belcher will join the company board as part of the transaction, alongside representation from Envestors backing members.
From the founder
"Envestors members immediately saw the opportunity of applying a successful distribution channel to a high-margin sector lacking a dedicated jewellery marketplace."
Rob Passmore
Managing Director at JewelStreet
Investor perspective
"The JewelStreet.com team have a clear vision as to how JewelStreet.com will change the way people purchase jewellery. We believe JewelStreet.com will be able to take a strong market position in the $50bn global jewellery sector."
Martin Belcher
Chairman, Polygon Group
Use of funds
- 01Expand into international markets
Investors
Categories
About the company
JewelStreet
JewelStreet runs an online marketplace for independent jewellery designers and brands.