Online jewellery marketplace, JewelStreet.com, has secured a £456,000 round of investment to fuel further growth.
The investment was led by Polygon Group, an investment company based in Guernsey, and as a result Martin Belcher, chairman of Polygon will join the JewelStreet board.
Belcher said: “We are thrilled to take the lead in JewelStreet.com’s latest investment round. The 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.”
The company aims to use the investment to roll out the platform internationally and take its existing brands and designers to new customers in new geographies, as well as bringing overseas designers to the UK.
Rob Passmore, managing director and co-founder of JewelStreet, said: “Our model has now been proven in comparable markets, ranging from Made.com in designer furniture to Farfetch.com in fashion. We believe JewelStreet.com can take a similar market leading position in the jewellery industry and this funding is the next step in that journey.”
JewelStreet, which was founded in 2012, enables jewellery brands and designers to open an online boutique on its website and sell directly to consumers globally.