Custom jewellery specialist, Rare Pink, has announced the completion of its first round of crowd-funding in less than two months, with individuals investing £100,000 and receiving 10.53% of company ownership.
After two months, such was the interest to invest, the company over-funded by 100% – raising £200,000 from over 100 investors. This gives Rare Pink a pre-money valuation of £850,000.
Crowd-funding was conducted through Seedrs, and additional investment rounds will be offered in the future.
The team at Rare Pink have spent the last year building the website, RarePink.com, establishing contacts with ethical diamond suppliers and perfecting the process of crafting custom designed jewellery. The process allows customers to participate in the design of their jewellery from home or work, with each piece telling its own story.
Nikolay Piryankov, co-founder of Rare Pink, said: “We are very excited to be offering customers the opportunity to propose with a ring that has meaning and a great story, without paying the high street price for this experience.
“After our first few customers started referring their friends to us, we realised there was a real opportunity to grow into a leading online retailer. That’s why we decided to raise our first external round of investment on Seedrs. Through crowd-funding we have not just gained investors, but over 100 brand ambassadors.”
From engagement rings to necklaces, earrings to bracelets, the sky is the limit in terms of options and quality. All of Rare Pink’s diamonds are Gemological Institute of America (GIA) certified and each design is unique, with a 30 day money back guarantee.
Co-founder and head of diamond purchasing, David Sutton said: “The industry is moving in the direction of specialization, not conformity. That means making jewellery that suits the needs of the customer—not the other way around.”
The uniquely designed and hand-crafted jewellery by Rare Pink can be purchased on the company website at RarePink.com.
UMI3 has worked closely with University of Manchester Alumnus, Nikolay Piryankov for 2 years, encouraging and enabling student enterprise. Alongside the Manchester Entrepreneurs Society, Nik runs Unipreneur, a free course hosted at The University of Manchester Innovation Centre (UMIC) to help students start their own business within just 3 days!