R

Rare Carat

Managed online marketplace for diamonds

Overview

Rare Carat is a US-based online diamond retailer that operates as a managed marketplace, directly selling diamonds and jewelry while handling payment, logistics, and customer service. It began as an AI-powered price comparison engine for diamonds and in 2021 switched to a direct-sales model, cutting markups by removing a middle layer. The company offers natural and lab-grown diamonds certified by GIA, IGI, or GCAL, with guidance from non-commissioned GIA graduate gemologists, plus 360° diamond videos, a 30-day return policy, free insured shipping, a one-year resizing service, and TD Bank financing. Its goal is to make online diamond shopping transparent, affordable, and straightforward by combining direct sales with expert guidance and strong buyer protections.

Significant Headcount Growth

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About Rare Carat

Simplify's Rating
Why Rare Carat is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Data & AnalyticsConsumer SoftwareFintechConsumer Goods

Company Size

51-200

Company Stage

N/A

Total Funding

N/A

Headquarters

New York City, New York

Founded

2016

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What believers are saying

  • Klarna launched financing on Rare Carat in September 2026, boosting conversion.
  • Forbes listed Rare Carat among America's Best Startup Employers in 2026.
  • Rare Carat's 200-person team and retailer model support scaling beyond lead-generation economics.

What critics are saying

  • Rare Carat faces TCPA litigation in California and ADA claims in Illinois.
  • Julien Saad replaced Ajay Anand as CEO in April 2026, signaling founder transition.
  • Lab-grown diamond commoditization pressures margins as competitors copy Rare Carat's transparency playbook.

What makes Rare Carat unique

  • Rare Carat owns checkout, logistics, and service, unlike pure comparison marketplaces.
  • Ajay Anand built Rare Carat around gemologist advice and diamond price transparency.
  • The platform pairs GIA-certified inventory with 360° videos and flexible financing options.

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Benefits

  • Remote Work Options
  • Flexible Work Hours

Growth & Insights and Company News

6 month growth

0%

1 year growth

27%

2 year growth

27%
Financial IT
Sep 3rd, 2026
Klarna and Rare Carat team up to bring flexible payments to engagement ring shopping.

Klarna and Rare Carat team up to bring flexible payments to engagement ring shopping. * Lending * 03.09.2026 12:29 pm Klarna, the everyday finance network, today announced a new partnership with Rare Carat, one of the largest online diamond and engagement ring retailers in the U.S., to give shoppers more flexible ways to pay for one of life's most memorable purchases. The average engagement ring in the U.S. now costs between $5,000 and $6,500, and more than a third of couples cover that cost with revolving credit with no fixed payoff date. Rare Carat customers can now choose Klarna's full suite of payment options at checkout instead, including pay in full, interest-free Pay in 4, and new 0% APR financing across 3, 6, or 12-month terms. "An engagement ring is one of the most meaningful purchases someone will ever make, and paying for it is just as personal as the ring they choose," said Lisa Robinson, Head of Partner Success, US East Coast and Canada at Klarna. "By bringing pay in full, interest-free pay in four and 0% APR financing to Rare Carat, we're giving consumers the flexibility this purchase deserves." "Rare Carat was built to bring transparency to diamond shopping, and payment flexibility is a natural extension of that," said Julien Saad, CEO of Rare Carat. "With Klarna, our customers can find the perfect ring for that big moment using a payment method that works best for them."

PR Newswire
Sep 2nd, 2025
Rare Carat Rated America's Number One Jeweler on Trustpilot

Rare Carat has been rated the #1 best Jeweler in the USA by reviewers on Trustpilot for the second consecutive year.

SHEEN Magazine
Feb 15th, 2024
South Carolina is the No. 36 least Expensive State for Engagement Rings This Valentine's Day

Rare Carat - an online diamond marketplace - today released a study on the Most & Least Expensive States for Engagement Rings after analyzing purchases from 22 million users.

Vents Magazine
Jan 30th, 2024
Is Rare Carat the Biggest Diamond Retailer Out There?

Rare Carat has made waves in the diamond industry, earning a reputation as the "Kayak of Diamonds" for its innovative approach to diamond retailing.

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