Digital coloured gemstone trading platform Gembridge has raised $500,000 from professional investors in a second fully funded round of convertible note financing, paving the way for further developments that will enable it to process up to $1 billion in transactions each year.
This is Gembridge’s second successful round of financing. It held its first round in July 2020, also raising $500,000 in convertible notes. The investment attracted key players in the coloured gemstone industry.
The second round is being taken up exclusively by professional investors and family offices in London, Geneva, Bangkok, Singapore and Hong Kong.
The dollar value of listings, requests and transactions on the Gembridge platform is up 333% year-on-year since the start of 2021. Over 80% of visitors each month are new to the site, covering all the top markets, with the highest number of visitors from the USA, Thailand, UK, Brazil, India, Sri Lanka, China and Hong Kong.
“We are delighted with this new level of support from professional investors,” said Gembridge CEO Nick Marrett. “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.”
Gembridge plans further fundraising with multi-million-dollar Series A and B Rounds already scheduled in 2022 and 2023 respectively.