Verado aims to eradicate counterfeits within the watch & jewellery industry, costing over £2.6 billion just in Europe. It is an online platform designed to connect sellers and buyers, providing access to authentic products. Verado lists £70m worth of inventory and has achieved £400,000 of sales.
Verado believes that buying pre-owned watches and jewellery should be a wonderful experience; but this is not always the case as the industry is overflowing with fakes, scams and security issues.
Verado has created a data-driven platform, enabling users to securely trade jewellery at fair prices.
The business is built on:
- A digital platform facilitating secure peer-to-peer transactions
- A proprietary pricing engine based on hundreds of thousands of data-points to provide a fair value estimation for all the listed goods
- An innovative verification process to ensure the authenticity of every item
The £200bn personal luxury market is positioned to grow as the inventory of goods available for sale increases and younger generations become less attached to keeping jewellery for a lifetime.
Founded by former Rocket Internet senior executive, Claudio de Giovanni.
Achievement to date
- Gross sales £400k to date, net sales £25k to date (EBITDA: -£175,281 in FY18)
- Lists 10,000+ watches worth over £70 Million
- Featured on Forbes, Watchuseek, WatchPro
- Developed a proprietary algorithm for real time pricing evaluation
- Recruited a team of industry experts, including Geoffroy Ader (ex Global Head of Watches at Sotheby’s) and Vishal Mehta (CEO at Dimexon)
- Raised over £200,000 (equity + government loan). Angels include: the ex. CEO of Crussh Food and CEO/owner of Dimexon