Sarine Technologies signed a strategic cooperation agreement with the Delgatto Diamond Finance Fund (DDFF), the largest non-bank diamond financing entity, to significantly expand rough diamond financing using Sarine technological solutions. Sarine also signed an MoU to purchase a majority share of the New York-based Gem Certification & Assurance Lab, Inc. (GCAL)
To considerably increase rough diamond financing through Sarine technological solutions, Sarine Technologies and the Delgatto Diamond Finance Fund (DDFF), the largest non-bank diamond financing company, signed a strategic partnership agreement.
In a different press release, Sarine said that it has signed an MoU to pay total cash for most of the Gem Certification & Assurance Lab, Inc. (GCAL) shares in New York. The GCAL Diamond Certificate is the only diamond report supported by the unparalleled and sector-exclusive Zero Tolerance 4C’s Consumer Guarantee. In addition, GCAL is the only diamond and gemstone ISO 17025 Accredited Forensic Laboratory worldwide.
Sarine Signs Deal With Delgatto
The “Del Gatto 360, Powered by Sarine” service for raw diamonds is being launched by the DDFF. This ground-breaking programme will use Sarine’s technical innovations to map, locate, and assess rough diamonds. This will considerably facilitate the scaling up of DDFF’s rough diamond financing operations.
With the help of the new “Del Gatto 360 – Powered by Sarine” service, interested parties will also have a one-of-a-kind opportunity to have the rough diamonds they bought and paid for optionally manufactured by the same company and in the same location, with end-to-end traceability fully documented by the Sarine Diamond JourneyTM solution.
The DDFF will be able to dramatically raise the quantity of financing it provides to the supply chain’s rough sector and broaden the sorts of structures it offers with the introduction of Del Gatto 360, Powered by Sarine, according to Sarine.
For the first time, thanks to this special arrangement, businesses in the diamond sector have a full turnkey solution for manufacturing and even selling polished products, as well as an easy way to get financing for acquiring rough diamonds.
“This opens up the sourcing process to everyone in the sector, even companies without the skill set of rough research or production, as well as offering the financial assistance to those who don’t have the requisite money,” said Chris Del Gatto, Chairman and CEO of the DDFF. As a result, a seat is now being provided at what was once a highly elite table.
“This is another example of the implementation of our approach to create extra value for our clients by utilising the considerable data we collect throughout the diamond value chain, a value which goes far beyond diamond manufacture,” said David Block, CEO of Sarine Technologies. As a result, the DDFF will now be able to raise the amount of cash it injects into the market, opening up new prospects for the entire industry in general and, in particular, for our numerous mutual clients.
The introduction of Sarine’s AI-derived and cloud-based eGrading, according to GCAL President Don Palmieri, “has, for the first time ever, given us the means to resolve our conundrum of how to expand our business both locally and abroad beyond our immediate control, without compromising on our principles.”
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