V N Jewellery (VNJ), an online jewellery retailer, has secured a £150,000 funding package from Maven Capital Partners’ Midlands Engine Investment Fund (MEIF).
Based in Aylesbury, the firm’s team comprises Hai Ngan Knight and Jeremy Knight, who act as managing director and finance director respectively.
VNJ will use the investment to expand its operations, implement an updated digital marketing strategy, and add two new members of staff over the upcoming year.
The bespoke jewellery provider is also looking to move its operations to a new website, supporting a forecasted £300,000 increase to its turnover within the next quarter.
Moreover, the funding will facilitate the group’s incorporation of additional advertising platforms, including an investment in targeted Google Ads.
Graham Hall, investment manager at Maven, said that the funding “should really propel VNJ forward”.
He added: “We are pleased to be able to support V N Jewellery with the next phase of its ambitious growth programme.
“Both Hai Ngan and Jeremy have such a strong work ethic and have developed an excellent product range – effectively identifying a gap within the online jewellery marketplace.”
With over 1,000 products placed across its online store front, TeasureBay, and Amazon, VNJ specialises in silver, gemstone, and freshwater pearl jewellery.
Jeremy Knight said: “This is a sizeable investment for V N Jewellery and will allow us to recruit personnel in marketing and website roles in order for us to grow and take advantage of the shift to online sales which have flourished during the Covid-19 crisis and are set to continue once the economy rebounds.’’