Finematter, a circular marketplace revolutionizing the jewellery industry, announced the successful second close of its seed round, bringing the total raised to €2.6 million. Renowned tech founders and industry veterans exclusively backed the round, sharing Finematter’s vision of promoting circularity and transparency in the jewellery market.
The seed round counts contributions from distinguished angel investors such as Heini Zachariassen (Vivino), Christine de Wendel (Zalando/Sunday), Jeppe Rindom (Pleo), Dino Patti (Playdead/Jumpship), Peder Micheal Pruzan-Jørgensen (Pandora’s Sustainability board), and participation from existing shareholder Heartcore Capital – with 46% of investors being female. Their support not only brings substantial financial backing to Finematter but also bolsters the company’s position with invaluable expertise from seasoned experts.
“We are absolutely thrilled and grateful to be backed by such an incredible group of investors. They, as we do, believe that we have a unique opportunity to create a category-defining company, which can make a difference for the many thousands of independent creatives in the jewellery industry, as well as a blueprint for a truly circular business model,” said Caroline Chalmer, Founder & CEO of Finematter. “This funding will enable us to further develop our platform, expand our network of jewellers, and create a lasting impact on the circularity of the jewellery space.”
Founded in 2021 and headquartered in London, UK, the company empowers customers to order, repair, remodel, and recycle real jewellery, giving them access to work with the world’s most skilled jewellers, all vetted by Finematter. Committed to circular principles, all jewellery transacted through the platform is issued with a digital certificate, documenting the full life-cycle of a piece of jewellery and enabling circularity.
The successful closure of this seed round comes at a critical time when investments in B2C startups have faced a significant decline, down by more than 60% compared to last year. Despite this drop, Finematter attracted funding due to its extraordinary collection of leading jewellers in the €327 billion industry, and their truly circular solution at the core of their model.
Remarkably, gold, a primary material in jewellery production, is infinitely recyclable without any loss of quality, yet less than one-third of the global gold supply is currently recycled. Finematter aims to change this narrative and promote a sustainable approach to jewellery consumption and production.
Read the orginal article: https://www.eu-startups.com/2023/09/london-based-finematter-raises-e2-6-million-seed-to-foster-a-circular-jewelry-economy/
