Digital first fine jewelry brand Fenton & Co. has raised over £1.7m in a funding round led by angel investors including Elizabeth Spaulding, president of StitchFix, and Alex Chesterman, founder of Zoopla. Camilla Dolan, whose previous investments include global businesses Gousto, Bloom & Wild and Heist, and Akshata Murty, director at Catamaran Ventures UK, were also among the participants.
The funds will be used to invest in new technology, amplify the company’s marketing efforts and expand the growing product line.
Founded in 2018 by Laura Lambert, the business rebels against the traditional methods by which engagement rings are shopped for. Instead, it offers customers the option to create their own designs with ethically mined gemstones and recycled metals through a made-to-order service.
With a strong presence on Instagram (the social media app accounts for up to 25% of its web traffic), Fenton & Co. is leveraging the power of digital channels to boost its direct-to-consumer business.
“This round of investment reflects the interest in the opportunity to change the way a very traditional industry has worked for many years,” said brand founder and CEO Laura Lambert.
“Our mission is to reinvent the way we shop for engagement rings and how we celebrate the sentiment of love through jewelry by removing the stress and barriers and making it fun and joyful again.
“In Western society, we’ve been seeded with the idea that we‘re obliged to spend a huge amount of money on engagement rings and that only a diamond will do. Fenton & Co. is here to change that, by creating rings from conflict-free gemstones and recycled metals at a fair price to allow people more choice and more personalized ways to express themselves than ever before.”
With offices in London and Mumbai, Fenton & Co. has recently hired Jerome Brustlein, former GM of Europe at Away, to be its chief operating officer. Going forward, Brustlein will be in charge of leading brand expansion and driving revenue growth.