DelGatto Launches First Ever Online Finance Platform, on IDEX OnlineMay 28, 20
(IDEX Online) - The DELGATTO Diamond Finance Fund (DDFF) today (26 May 2020) launches the diamond industry's first ever online finance platform, on IDEX Online.
Dealers who have inventory on the IDEX Online trading platform will be able to click on any individual stone or stones and receive an immediate financing estimate from DELGATTO Diamond Finance Fund.
This offers the diamond and jewelry industry, for the first time, online access to quick, easy and secure financing from $50,000 up to and over $10m. This is more critical than ever as commercial banks are leaving our industry in record numbers.
DDFF is the world's largest non-bank lender for the diamond, jewelry and timepiece industries. Having its collateral-based finance available online was a critical next step in their continued mission to supply credit to an industry that desperately needs it.
Christopher Del Gatto, Co-Founder and CEO of DDFF (pictured), said: "For the first time ever a wholesaler who lists their goods on a platform like IDEX Online can simply press a button and receive financing as well. Thanks to IDEX we've created a process that is simple, secure and straightforward. We believe this will greatly increase the rate at which alternative financing provides credit for our industry."
R. Andres Lucas, Co-Founder of DDFF, said: "We are gratified to partner with IDEX Online. They continue to be one of the most forward-thinking and technologically adept players in the industry.Their clients include diamond companies from all over the world and it is our privilege to offer these firms a reliable solution to getting capital easily and quickly."
Ehud D Cohen, IDEX Chairman, said: "We are thrilled to be the platform of choice for DelGatto. This is a truly ground-breaking moment for diamond dealers worldwide. Lack of liquidity, even before coronavirus, was arguably the leading challenge for the midstream of our industry. Commercial banks have all left, with few exceptions, and the Covid crisis has only exacerbated this problem exponentially."
About DELGATTO Diamond Finance Fund
DELGATTO Diamond Finance Fund, headquartered in New York with offices in Dubai, is a finance company founded and operated by diamond and jewelry industry experts. As the largest non bank lender to the industry, it has since its inception in November 2018, financed over 200 companies worldwide. Working across the spectrum of the industry, from site holders and mining companies, to smaller polished dealers, traders, retailers and manufacturers.
DDFF provides financing for midstream diamond and jewelry industry participants through its flexible, repeatable and scalable platform to enable its clients to achieve their financial objectives. To learn more about the firm, please visit www.delgattodff.com
About IDEX Online
IDEX - International Diamond Exchange - is the leading online diamond-trading platform for professional diamond traders located in the main diamond trading cities. IDEX features online, live, supply listings with dynamic pricing features and a proprietary and unique online transaction clearing function (GDTTM).