Irish jeweller Chupi secures €3.75m to fund global expansion plan

Founded in 2013, Chupi was founded by now CEO, Chupi Sweetnam, who first started designing at the age of 17.

Award-winning Irish jewellery brand, Chupi has raised €3.75m in new equity and debt to accelerate its global growth.

Employing over 50 people across Ireland and the UK, the company's new equity investors include BVP, one of Ireland’s leading EIIS investment funds, and Irish Private Equity firm Abbey International Finance.

Permanent TSB’s business banking division has also provided term debt to support the company’s growth plans.

The funds raised will expand Chupi's retail footprint, with the company's jewellery already sold across 70 countries to over 280,000 customers.

The funding will also further enhance the firm's technology offering including augmented reality, as well as expand its high-impact customer services with the addition of blockchain and strategic new hires. 

Chupi currently has a retail presence in Powerscourt Townhouse Centre in Dublin, with all of its jewellery designed and crafted in Ireland.

Founded in 2013, Chupi was founded by now CEO, Chupi Sweetnam, who first started designing at the age of 17. At 21, she established her own brand, with all Chupi jewellery handcrafted with 100% solid recycled gold and conflict-free diamonds.

Following the new investment of equity, Chupi will continue to be majority owned by Chupi Sweetman, her husband Brian Durney and members of the company’s leadership team.

Speaking on the announcement, CEO, Chupi Sweetman said, "What started as a plan built at the kitchen table almost 10 years ago has grown into a business that I am so proud to lead and continue to grow. Today’s investment will allow us break down even more borders on the world stage."

“We are looking forward to expanding our retail offering in Ireland and developing new concession arrangements in key target international markets."

Stephen Burdock, Investment Director at BVP Investments said they were "delighted" to support the business, saying, "We were very impressed with the Chupi team who bring significant experience together of global brands, their senior executive level experience and their focus on sustainable products. The Chupi investment forms a significant part of our 2022 EIIS fund portfolio.”