VentureFounders, the UK-based equity crowdfunding platform for sophisticated investors, has today launched a GBP850,000 raise for Vashi, one of the UK’s best known diamond jewellers.
With sales currently predominantly made online, Vashi is seeking to raise GBP850,000 in this Enterprise Investment Scheme (EIS) eligible round, at a pre-money valuation of GBP6 million. Over GBP450,000 has already been raised from existing and new investors, with VentureFounders supporting the round with a GBP315,000 raise.
Through the money raised, Vashi is looking to further grow its sales channels beyond eCommerce by opening physical stores in which customers can browse and buy its products. Vashi has already successfully opened a pilot store to test the viability of permanent shops and will expand upon this to open full-scale stores and concessions, which will carry new, branded, exclusive collections.
Vashi is an award-winning business, which was founded in 2007 by diamond expert Vashi Dominguez. Its unique supply chain model means Vashi generates gross margins that are more than three times larger than its online competitors, while still significantly undercutting high street retailers prices. The company is popular with many celebrities including: Rita Ora, Cheryl Fernandez-Versini, Holly Willoughby and Pixie Lott.
Eva Weber (pictured), Investment Director at VentureFounders, says: “We were impressed by Vashi’s experienced management team, combined with the company’s trading history and its strong branding. Vashi is now at an exciting stage in its development as it invests into physical stores to complement its existing online presence and scale up its operations.”
Vashi Dominguez, founder of VASHI, adds: “Since our launch in 2007 the company has gone from strength to strength, rapidly building up brand recognition and celebrity endorsement in what is a complex and fragmented market. We are now looking to expand the company, with a focus on increasing sales and visibility through opening physical stores. We decided to work with VentureFounders as part of our fundraise because the team really understands our business, vision and potential. We are looking forward to developing strong relationships with our investors to drive the business forward.”
