Everledger
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Everledger was an Australian blockchain company founded in 2015 by Leanne Kemp, the former Queensland chief entrepreneur. It built a blockchain platform to trace the provenance of diamonds, other precious gems, fine wine, art, and luxury goods, letting traders and retailers share the origin history of individual stones. The platform was endorsed by the Gemological Institute of America, the De Beers Group, and major retailers including Chow Tai Fook,
02 / Everledger FAILURE REASONS
Failure factors
Its CEO attributed the financial crisis to an investor withdrawing committed funding, which preceded the UK wind-up and Australian administration.
03 / EVENT HISTORY
Events in the structured record
- Liquidation
The UK entity entered voluntary liquidation in April 2023, followed by compulsory liquidation proceedings in June.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Raised over $37 million in external investment, including a Tencent-led $20 million Series A in 2020 and a $3 million Australian government blockchain pilot grant.
- 02
Entered voluntary administration in March 2023 after expected investor funding failed to materialize; employees received redundancy notices on March 31, and administrators were appointed on April 24.
- 03
The UK holding company Foreverhold Limited went into liquidation, with liquidators running a sale program for the blockchain platform and intellectual property; the business was later restructured under founder Leanne Kemp as sole owner.