“Jewelry as a Service” Startup Completes $5 Million Capital Raise Funding to Support Rapid Expansion

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Flont (https://flont.com/), the pioneer of “Jewelry as a Service,” today announced its completion of a $5 million capital raise to support its rapid expansion. Founded in October 2016 and launched to the public in May 2017, Flont has experienced 100% monthly membership growth since launch, validating its experience-oriented, “Try & Buy" model within the fine jewelry sector.

“Flont is tackling the challenges which inhibit high-touch sales in the age of e-commerce. Borrowing incredible jewelry, and experiencing it first-hand is the best way to discover brands and designers, while developing a lifelong affinity. Our members can enjoy unlimited jewelry, with the opportunity to purchase pieces they want to keep forever.” said Cormac Kinney, Founder & CEO of Flont. “Our ‘Try & Buy’ model is unique within the vertical, and makes us a natural friend to the industry — we already carry over 40 leading brands and have exclusive partnerships with 10 top designers.”

This Series Seed raise was funded by of a group of influential private investors, including the newly-launched C Ventures (https://c-venturesfund.com). Co-founded by media mogul and financier, Clive Ng, and led by Adrian Cheng, Executive Vice-Chairman of Hong Kong's New World Development (17.HK) and Executive Director of Chow Tai Fook Jewelry Group, C Ventures focuses on brands driven by technology, and those that embrace alternative consumption models. Flont joins the ranks of Armarium, Bandier, Paddle8 and several companies specializing in fashion, art, creative media and culture within C Ventures’ portfolio.

Flont will use this round of funds to build inventory and increase staff, in order to scale its operations as membership expands. A portion of this raise will help fund the company’s expansion into the Chinese market.

ABOUT FLONT

The pioneer of "Jewelry as a Service," Flont, enables consumers to discover brands through high-touch e-commerce. Those who prefer to shop online can now discover, borrow, experience, and even buy fine jewelry — with insurance and shipping included. Flont provides short term fine jewelry rentals as well as memberships with unlimited access.

More news and information about Flont

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Business Wire: 14:13 GMT Thursday 12th October 2017

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