Jewelry marketplace, TrueFacet issues $4.79 million worth of equity

$4.79 million was raised by TrueFacet following the successful placement and issuance of its unregistered equity securities. A total of twenty-eight investors participated to the non-brokered placement which started one month ago. No offering was previously initiated by the company under a registration exemption with the SEC.
An undisclosed portion of the security issuance is related to the conversion of certain indebtedness.
TrueFacet markets and develops an online marketplace for second-hand luxury jewelry and watches. While sellers can list their items directly on the marketplace, the company offers a consignment, authentication and refurbishing service. Financial backers include Maveron, Social Leverage, Founders Coop and Trilogy. The company is a TechStar alumus.
Tirath Kamdar (CEO) leads the New York NY based company which was registered in 2014. TrueFacet elected to keep its revenues undisclosed.
The executive team includes Christopher Chan.
Offering recap
Status: Completed
Company: TrueFacet
Industry: Retailing
Amount offered: $4.79 million
Amount placed: $4.79 million
SEC filing: Source
First sale: 05-08-2015
Data as of: 06-08-2015

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