MarketOrders, a B2B platform that enables users to buy gold and diamond jewelry directly from international suppliers, is raising capital on Crowdcube.
According to the campaign page, MarketOrders is seeking a £400,000 minimum raise selling an 8.16% equity stake in the firm at a £4.5 million pre-money valuation. As it stands today, the offer is over 90% funded with the backing of 50 individual investors.
The company said in a release that it plans to use the funding to officially launch its platform, which will use blockchain technology to make the gold and diamond jewelry buying process more transparent.
Founded in 2016 by Sukhi Jutla and Ram Krishnna Rao, MarketOrders uses technology to enable jewelers to get products they need faster, cheaper from global suppliers.
MarketOrders says it has been self-funded to-date and this first round of external funding.
The company says it plans on making a number of strategic tech hires, who will primarily focus on developing the platform, which is said to be in a beta phase.
Rao, CEO of MarketOrders, said he feels confident that they have a strong business model in MarketOrders.
“There was a clear gap in the market for an online marketplace that provides independents with superior buying benefits, and we’re excited to roll the platform out to more retailers and suppliers in the coming months.”
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