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Store attracts investors

By North Devon Journal  |  Posted: April 17, 2014

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ONLINE jewellery store JewelStreet has launched a round of "crowdfunding" to attract £100,000 of investment. It is doing this through the Crowdcube funding platform and has raised 30% of its funding within the first 24 hours.

Rob Passmore, managing director of JewelStreet, said: "Crowdfunding is a great way for people to own a part of a progressive new business like JewelStreet. Our business plan projects a 14 times multiple return on investment within three years."

Luke Lang, co-founder/marketing director of Crowdcube, said: "By making angel investing more accessible, affordable and rewarding, Crowdcube provides entrepreneurs of good start-up, early stage and growth companies the opportunity to secure investment that has all too often been a significant barrier to growth."

JewelStreet has also strengthened its management team with two new additions: Alison Woolfenden, ex-ecommerce manager at Kit Heath, and finance director Mark Rogers, who has managed turnovers in excess of £250 million for IBM and other corporations and is a certified accountant.

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