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TrueFacet Looks to Raise $10M from Investors

Dec 30, 2018 9:35 AM   By Rapaport News
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 TrueFacet, a platform for pre-owned luxury watches and jewelry, is offering nearly $10 million in shares in its latest funding round.

The New York-based marketplace has raised $7.1 million of the target so far, according to a December 26 filing with the US Securities and Exchange Commission. Including that amount, it has procured $21.8 million over six rounds, according to investment site Crunchbase. Current investors include Founders’ Co-op, Freestyle Capital, Social Leverage and Maveron.

TrueFacet claims to offer more than 140,000 pieces of pre-owned watches and jewelry online. In August, it partnered with seven luxury brands, including Zenith, Roberto Coin, Raymond Weil, Fendi Timepieces and Fabergé, to offer their products directly to consumers through the TrueFacet marketplace.

The e-commerce platform recently launched its first physical location in California in partnership with jeweler Stephen Silver, selling TrueFacet’s pre-owned merchandise inside the luxury jeweler’s boutique.

Image: A Cartier watch and bracelet. (TrueFacet)
Tags: Fabergé, Fendi Timepieces, Founders’ Co-op, Freestyle Capital, Maveron, Rapaport News, Raymond weil, Roberto Coin, Social Leverage, Stephen Silver, TrueFacet, Zenith
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