TrueFacet Closes $6 Million in Funding

The company also recently appointed a former Bulgari CEO to its board

TrueFacet, a site that specializes in pre-owned designer jewelry and watches (which it calls pre-loved), closed on a $6 million funding round.

The round was led by Maveron. Participants included Freestyle Capital, Social Leverage, Founders’ Co-op, Trilogy Equity Partners, and Liquid 2 Ventures, and global marketplace investors Rahul Mehta and John Lindfors.

The company also recently appointed Francois Kress, current CEO of Carolina Herrera and former CEO and managing director of Bulgari, to join its board of directors

Since its launch in 2014, TrueFacet has achieved 120 percent annual sales growth, it says. It currently lists more than 50,000 jewelry and watch items from more than 70 brands, including: Tiffany & Co., Cartier, Rolex, Omega, and Hermès. Among the items it has sold this year: a Patek Philippe 5575-G ($120,000); a Patek Philippe pilot Calatrava ($50,000); a Bulgari Serpenti bracelet ($63,000); and a Rolex Daytona Platinum Oyster men’s watch ($75,000).

 

JCK News Director