IDEX and Delgatto Diamond Finance Fund (DFF) recently announced a new joint initiative that the two organisations were embarking upon, “that will make it easier for diamond and jewelry wholesalers globally to use DDFF's services to easily access capital”, the online trading platform said.

"For the first time ever, the industry has a finance company that is founded and run by diamond and jewellery industry experts," said Chris Del Gatto Founder & CEO, about his company DDFF, a finance fund for the gems and jewellery industry. "Beyond just capital, DDFF gives borrowers the option to sell their inventory over the course of the financing period. This includes accessing their online platform which reaches thousands of consumers weekly, and this alternative offers higher margins than wholesalers typically achieve. Concurrently, borrowers can have their items listed on IDEX as well."

On its part, IDEX will explain about the services provided by the DDFF to the industry in various important centres. “Presentations are scheduled at many of the diamond bourses worldwide, as well as to industry organisations, to explain to the trade how they can utilise this service,” IDEX announced.

"The industry is at a crossroads,” Del Gatto added. “Commercial banks have decided en masse to retreat from our industry so the majority of companies who have bank financing have been, or will be, shown the door. They will need to find another way to get financing.  Our goal is to support the industry that I have been a part of since 1987, to create an institutionalised alternative financing solution that also offers dealers the potential to attain higher margin sales."

Del Gatto noted that that Pierre De Bosscher, former CEO of the Antwerp Diamond Bank, “had reached out to DDFF”, IDEX reported. "He understood better than anyone the crisis at hand, and felt that our product and team were best positioned to address it."

De Bosscher has now joined DDFF as a European Director. "We feel this is another great vote of confidence,” Del Gatto observed. “Mr De Bosscher is extremely well respected and knowledgeable. "

IDEX announced that De Bosscher is speaking at the DDFF presentation being made  at the Antwerp Diamond Club on January 28, 2019.