Rare Pink engages investors with £340,000 crowdfunding round
UK bespoke engagement ring start-up closed oversubscribed Seedrs campaign with backing from 245 investors, taking its valuation to £2.84m
Custom-made engagement ring business Rare Pink has raised £340,000 in an oversubscribed crowdfunding round via equity crowdfunding platform Seedrs, alongside investment from private angel investors via LAUNCHub.
254 investors backed the round; its second successful crowdfunding attempt to date, in exchange for a share of 5.66% equity – taking the start-up’s valuation to £2.84m.
Launched in October 2013, London-based RarePink is an online retailer which creates bespoke jewellery and specialises in wedding bands and custom-designed engagement rings ranging from vintage and modern designs to quirky Star Wars-related engagement rings.
Users can design their own ring via its website and can also discuss ring ideas with the company’s sales and design consultants via WhatsApp.
Nikolay Piriankov, co-founder of Rare Pink, explained how the company will use the investment:
“Our plans are to now enter the US market where we already deliver 15% of our rings and to launch a new mobile responsive website to provide a better experience to the growing number of customers now shopping from their mobile phones.”