Digital coloured gemstone trading platform, Gembridge, has reported the closure of a second round of funding culminating in $500,000 (£366,000) of investment.
Its growth has been so substantial, the company claimed, that it expects to process as much as $1 billion (£734 million) worth of transactions per year in the near future.
The $500,000 comes from professional investors in a second fully funded round of convertible note financing. It raised an initial $500,000 in a first round last year.
Now the company is looking ahead to a series A round next year, followed by a series B round in 2023.
“We are delighted with this new level of support from professional investors,” said Gembridge CEO, Nick Marrett. “It demonstrates that Gembridge is presenting a vision, business model and company growth that is turning heads in the investment markets around the world.
“The markets are excited by us setting new standards for affordability and transaction security while delivering universal global access to high-quality coloured gemstones.”
“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 $1 billion in transactions each year across the trade and consumer markets.”
Meanwhile, 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 10.81ct imperial topaz, a 7.78ct oval green sapphire, a 2.06ct pair of red spinels, and a lovely 1.06ct padparadscha sapphire.”