Safira gets fresh investment, looks to boost international expansion.

Safira, a Gothenburg, Sweden-based online jewellery retailer managed by Fashionable Development Europe AB, announced getting into an investment agreement with Verdane Capital, through its fund, Verdane Capital IX.

The financial details of the transaction remain undisclosed and the money will be used to build a fast fashion jewellery brand with international ambitions.

Fashionable Development Europe AB, founded in 2012 in Västerås, developed Safira as an online retailer of jewellery and accessories, providing a variety of fashion and traditional jewellery products, including gold and silver rings, necklaces, bracelets and watches. The company has received a lot of attention for its partnership with Swedish fashionista Molly Rustas, and their joint collection Safira by Molly Rustas.

Safira, led by CEO Jeff Petterson, has primarily focused on the Swedish consumer market, through Safira.se and its newly opened flagship store in Gothenburg. Following the investment by Verdane, the company now targets expansion across the Nordics and beyond.