UK-based jewellery marketplace Jewellery Street has raised £465,000 in venture funding through the Envestors group of investors.

The business was set up in 2012 to “give a fairer deal for designers”, with 12,500 products and 250 designers selling through its website (see link below).

For designers, the website offers secure payment processing, marketing and messaging. They receive 75% of their product’s retail price.

It was set up by former Saatchi & Saatchi executive, Rob Passmore, to serve the estimated £4.8 billion UK jewellery market.

“Envestors members immediately saw the opportunity of applying a successful distribution channel to a high-margin sector lacking a dedicated jewellery marketplace,” said Passmore.

Polygon Group, an investment business based in Guernsey, was lead investor in the round, while Envestors raised £350,000 of the total.

Nick Taylor, co-founder of Envestors, said: “We were able to identify and mobilise investment from a small group of experienced investors who will also be represented on the board to guide the company’s continued success.”

Created in 2004, Envestors has raised more than £80 million and has a network of more than 2,000 business angels.