Sarine Technologies will partner with Delgatto Diamond Finance Fund on an evaluation service for rough diamonds that industry members offer as collateral when obtaining credit.
The new program, called “Del Gatto 360, Powered by Sarine,” will use Sarine’s diamond-mapping technology to assess rough stones and predict their polished value. This will help Delgatto evaluate the extent to which a diamond is eligible for its financing, the companies said Sunday.
Customers can also request that the rough be cut and polished at one of Delgatto’s manufacturing facilities in Dubai or New York, and then sold for them.
“For the first time ever, all the elements of the diamond supply chain are aggregated and made simple,” said Chris Del Gatto, CEO of Delgatto. “This opens up the sourcing process to everyone in the industry, even companies without the skill set of rough analysis or manufacturing, as well as providing the financial help to those that don’t have the required capital.”
Delgatto will give Sarine a percentage of the total financing it provides for each rough stone put through the program, it noted. If the customer uses the extended service — manufacturing or selling the diamond — Sarine will receive additional proceeds.
“This is another example of our implementation of our strategy to create added value for our customers by utilizing the extensive data we generate throughout the diamond value chain, value which goes way beyond diamond manufacturing,” said Sarine CEO David Block. “I am confident that [Delgatto] will now be able to increase the capital it injects into the market in a way that will create additional opportunities for the entire industry.”
Image: The Sarine headquarters in Hod Hasharon, Israel. (Sarine Technologies)