Date : 10-Sep-2020
Location: Kuala Lumpur
Organization:
- NEXEA Angels Sdn Bhd (NEXEA),a Malaysian Venture Capital and Startup Accelerator firm.
- ZCOVA,a fast-growing jewellery and diamond company.
Key Takeaways:
- NEXEA has just closed a funding round of RM 1 Million for ZCOVA.
- The financing will be used to fund the expansion of the business as well as on all efforts to modernise the way diamonds and gemstones are purchased via online-retail.
Offering:
Founded in 2015, ZCOVA is reshaping the jewellery shopping experience as the only company in Malaysia and Singapore that offers dual-certified (GIA & GemEx) diamonds at a near-wholesale price to the burgeoning gem-market through its online store.
- Transparent transaction chain through the removal of middlemen.
- In-house jewellery consultants work on a zero-commission policy.
- The online store offers customization options.
Spokepersons:
- Ben Lim,Managing Partner, Nexea Angels,commented on the evaluation criteria which are strong team and on the right track to disrupt traditional market.
- Ziwei, Co-Founder, ZCOVA,said their competitive edge comes from having GemEx Certificate and online presence to having intensive experience in terms of providing valuable services to customers.
Insights:
- ZCOVA’s revenues saw an increase of 30% in the month of June coming out strong on the tail-end of the MCO as compared to pre-MCO.
- Moreover, the firm is looking at strong Y-O-Y growth for FY21&22 as they expand their operations to Singapore, vying for a top spot at the growing south-east Asian financial hub.
- Delivery will be protected by comprehensive security SOP and insurance.
Best Practices:
To get funded with RM 1 million, make sure your startup has a strong team and on the right track to disrupt traditional market.
Editor's comments:
Wish ZCOVA and NEXEA 1 million times more successful moving forward.
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| Diamonds are forever |
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