Ecommerce marketplace Nivoda secures £44.6m facility from i80 Group
At a glance
This article covers a financing facility on 30 September 2025 for Nivoda, a London- and New York-headquartered B2B marketplace connecting over 10,000 retailers with millions of diamonds and gemstones, founded by David Sutton and Andre Woons. The deal totals £44.6m, led by i80 Group with participation from Northzone.
What does Nivoda do?
Nivoda is a B2B marketplace platform for retailers to source diamonds and coloured gemstones and manage orders, inventory and logistics. It provides embedded finance and flexible 30, 60 or 90 day trade credit to fund purchased inventory.
Why is Nivoda useful?
Problem
Retail jewellers face a liquidity crisis after banks withdrew financing, leaving many unable to fund inventory purchases. At the same time, demand for personalised and bespoke jewellery has soared, increasing need for flexible sourcing.
Solution
Nivoda explains that it connects retailers to millions of diamonds and gemstones through one platform, simplifying sourcing and logistics. It also offers flexible 30, 60, or 90-day payment terms to free up capital for inventory and bespoke production.
How much did Nivoda raise?
Nivoda raised £44.6m ($60m) through a financing facility from i80 Group. This makes it the 12th largest funding round in September 2025 (65 recorded). The deal is also 46th among UK investments this year (472 recorded) in the Startupmag database, as of 30 September 2025.
For details on how Startupmag compiles its rankings, view our Methodology.
Who invested in Nivoda?
Key investors in this financing include:
- i80 Group: An institutional lender that provides financing facilities aligned with marketplace trading flows.
- Northzone: A venture capital firm that invests in early-stage technology companies across Europe and the US.
In the funding announcement, Edward Goldstein from i80 Group said:
By connecting retailers and suppliers on a truly global scale, Nivoda has redefined how the diamond and gemstone trade operates. We’re proud to provide financing that reflects marketplace realities, helping Nivoda and its partners expand responsibly and efficiently.
If you're researching potential backers in this space:
- Explore our list of ecommerce venture capital firms in the UK
- Browse our directory of ecommerce angel investors in the UK
Who founded Nivoda?
The founders of Nivoda are David Sutton and Andre Woons.
In the funding announcement, Dave Sutton, CEO of Nivoda said:
Nivoda has raised $81 million in primary equity funding to date, including our most recent $35M funding round led by Northzone, which was announced last year.
Where is Nivoda based?
Nivoda is based in London, UK.
What sector is Nivoda in?
Nivoda operates in the ecommerce sector. The ecommerce sector covers businesses that sell goods or services online. It includes online marketplaces connecting retailers and suppliers.
Key trends and challenges in jewellery:
Tighter bank finance and cash constraints
Many small jewellers lack upfront cash to buy inventory, making 30 to 90 day payment terms vital.
Rising demand for personalised and bespoke pieces
Consumers increasingly want customised jewellery, often needing made-to-order production that takes several weeks.
Digital platforms and stronger provenance expectations
Online platforms combine sourcing, logistics and payments, while shoppers demand verified origin, for example lab-grown stones.
For a deeper look at innovation in this space, see the ecommerce startups in the UK.
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