Story Highlight
– Nivoda secures $60m financing from i80 Group.
– Funding addresses jewellers’ working capital gaps.
– Flexible credit options include 30-90 day payment terms.
– Company reports triple-digit year-on-year growth.
– Operates globally, connecting 10,000 retailers and suppliers.
Full Story
Nivoda, an online marketplace facilitating connections between retailers and global diamond and gemstone suppliers, has successfully secured a financing facility worth $60 million (£44.65 million) from investment firm i80 Group. This funding aims to provide essential trade credit to jewellers around the globe.
With its headquarters in London and New York, Nivoda serves over 10,000 retailers, helping to bridge the working capital gap increasingly felt due to traditional banks pulling back from the diamond sector. The jewellery industry has experienced significant liquidity constraints over the last decade, necessitating broader access to suppliers for smaller retailers amidst growing consumer demand for customised and bespoke pieces.
The financing will enable Nivoda to enhance its flexible credit offerings, which will include payment terms of 30, 60, and 90 days. This initiative is expected to support retailers in managing their inventory costs and adapting to seasonal fluctuations while facilitating the lead times required for custom orders.
David Sutton, the chief executive and founding member of Nivoda, commented, “While traditional lenders have reduced their exposure to the diamond trade, this financing agreement allows us to work with an institutional lender in i80 who has taken a more dynamic approach, aligning financing with real trading flows and buyer engagement.”
Established in 2017, Nivoda has experienced impressive growth, reporting triple-digit year-on-year increases, and boasting a portfolio of more than 2.5 million diamonds and coloured gemstones on its platform. Their offerings extend beyond just transactions, including services such as stone reservations, returns, jewellery manufacturing, certification, as well as logistics and order tracking.
Edward Goldstein, managing director of i80 Group, expressed pride in this partnership, noting, “By connecting retailers and suppliers on a truly global scale, Nivoda has redefined how the diamond and gemstone trade operates. We’re proud to provide financing that reflects marketplace realities.”
Nivoda has cultivated a diverse workforce, with employees stationed in 25 countries and offices located in cities such as Amsterdam, Antwerp, Cape Town, Dubai, Bangkok, Mumbai, and Hong Kong.