Just one week after launching its equity crowdfunding campaign on Crowdcube, MarketOrders, a B2B platform that enables users to buy gold and diamond jewelry directly from international suppliers, has successfully secured its £400,000 funding target from nearly 100 investors.
As previously reported, MarketOrders was founded in 2016 and uses technology to enable jewelers to get products they need faster, cheaper from global suppliers.
“With hundreds of designs available online, the business has organically developed a UK customer base and 3 international suppliers already on board. MarketOrders are recognised for leading tech innovation in a traditional industry, winning 10 awards and featured in the Financial Times, The Sunday Times & Telegraph, CityAM, BusinessCloud and Management Today.”
Ram Krishnna Rao, Founder of the platform, shared at the time of the campaign’s debut.
“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.”
MarketOrder revealed it is planning 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. The platform is sought the £400,000 minimum raise selling an 8.16% equity stake in the firm at a £4.5 million pre-money valuation.
The funding round is currently set to close at the end of June.
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