Finematter secures £2.2m in seed round
Finematter, the circular marketplace with over 150 independent jewellers, has announced the successful second close of its seed round, bringing the total raised to £2.2m.
Founded in 2021 and headquartered in London, the company empowers customers to order, repair, remodel, and recycle real jewellery, giving them access to work with the world’s “most skilled” jewellers, all vetted by Finematter.
Committed to circular principles, all jewellery transacted through the platform is issued with a digital certificate, documenting the full life-cycle of a piece of jewellery and enabling circularity.
Tech founders and industry veterans exclusively backed the round, sharing Finematter’s vision of promoting circularity and transparency in the jewellery market.
The seed round counts contributions from investors such as Heini Zachariassen (Vivino), Christine de Wendel (Zalando/Sunday), Jeppe Rindom (Pleo), Dino Patti (Playdead/Jumpship), Peder Micheal Pruzan-Jørgensen (Pandora’s Sustainability board), and participation from existing shareholder Heartcore Capital – with 46% of investors being female.
According to Finematter, their support not only brings substantial financial backing to the company but also “bolsters the company’s position with invaluable expertise from seasoned experts”.
It said that the successful closure of this seed round comes at a “critical” time when investments in B2C start-ups have faced a significant decline, down by more than 60% compared to last year.
Despite the drop, Finematter attracted funding due to its collection of “leading” jewellers in the £280bn industry, and their truly circular solution at the core of their model.
Gold, a primary material in jewellery production, is infinitely recyclable without any loss of quality, yet less than one-third of the global gold supply is currently recycled.
Finematter aims to change this narrative and promote a sustainable approach to jewellery consumption and production.
The company empowers customers to order, repair, remodel, and recycle real jewellery, giving them access to work with the world’s most skilled jewellers, vetted by Finematter.
Caroline Chalmer, founder and CEO of Finematter, said: “We are absolutely thrilled and grateful to be backed by such an incredible group of investors. They, as we do, believe that we have a unique opportunity to create a category-defining company, which can make a difference for the many thousands of independent creatives in the jewellery industry, as well as a blueprint for a truly circular business model. This funding will enable us to further develop our platform, expand our network of jewellers, and create a lasting impact on the circularity of the jewellery space.”