Retailers

Gembridge raises £368k in funding

The funds pave the way for further developments that will enable the group to process up to $1bn (£735m) in transactions each year

Gembridge has announced that it has raised $500,000 (£368,000) from professional investors in a second fully funded round of Convertible Note financing.

The funds pave the way for further developments that will enable the group to process up to $1bn (£735m) in transactions each year.

This is the second time the group has had a round of financing. It held its first round in July 2020, also raising $500,000 (£368,000) in Convertible Notes.

The second round is being taken up exclusively by professional investors and family offices in London, Geneva, Bangkok, Singapore and Hong Kong.

Nick Marrett, CEO, Gembridge, said: “We are delighted with this new level of support from professional investors. It demonstrates that Gembridge is presenting a vision, business model and company growth that is turning heads in the investment markets around the world.

“These new proceeds are now being used to develop an enterprise level platform that will deliver world-class levels of personalised engagement and gemstone discovery, and will have the ability to process up to $1bn (£753m) in transactions each year across the trade and consumer markets.”

Tony Brooke, chairman of Gembridge, added: “Investors are delighted by the surge of transactions on Gembridge, with members appreciating the range of affordable, gem quality stones available.

“Our recent sales include a stunning 10.81 ct imperial topaz, a 7.78 ct oval green sapphire, a 2.06 ct pair of red spinels, and a lovely 1.06 ct padparadscha sapphire.”

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