What is the size of the market opportunity being addressed by Diamante?
Market opportunity Diamante:
Diamante has identified the diamond industry as the ripest candidate for disruption and as such, and building on the team’s knowledge and histories, decide to target this area first before expanding to other luxury goods. In addition, the founders of Diamante hail from the diamond industry, and therefore the initial application of the already proven technology would be implemented in the diamond industry.
Once successfully implemented in the diamond industry, Diamante will expand its operations into multiple industries such as precious metals, commodities, pharmaceuticals, textiles, and other luxury goods with a huge potential to scale its business and revenue streams.
Market opportunity PayCircle:
Diamond industry moves funds globally in various corridors in a total of $150-180 billion annually.
Diamante is currently working alongside banks to integrate its already proven payments technology. Diamante is currently integrating its workflow system, document transfer system and payment system with the banking and financial institutions. Once successfully implemented within the diamond industry, Diamante would expand its verticals in multiple industries.
Market opportunity CreditCircle:
More than 90% of Diamonds are cut and polished in India. India being not so lucrative market to get cheaper financing makes the cost of capital higher. Also, private financing within the industry comes at a higher expense. Diamante, with its global platform, would give access to all its consortium members a cheaper financing solution that would in turn help cover the majority of the $80-100 billion industry.