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Mejuri Case Study

Can Mejuri build a category-defining accessible fine jewelry brand — with 55+ global stores and a Shopify-native commerce stack — without losing the community-driven, self-purchase identity that differentiated it from traditional luxury?

Founded2015
HQToronto, Ontario, Canada
FoundersNoura Sakkijha, Majed Masad
Latest roundDebt refinancing, 2026
IndustryE-commerce / DTC brand
The story

Founded in 2015 as a purely online DTC fine jewelry brand challenging the gifting-to-women convention of the traditional jewelry industry. Scaled through a community-led, self-purchase narrative and a demand-driven manufacturing model that minimized overproduction. From 2022 onward, Mejuri aggressively expanded into brick-and-mortar, operating 55+ global retail locations by 2024, while simultaneously migrating its entire custom technology stack onto Shopify's unified commerce platform. The embedded finance angle is modest — limited to BNPL at checkout via Afterpay — reflecting a retailer that consumes rather than builds financial infrastructure.

Last 12 months
2026-03
2024
2024
Product timeline
2015
Founded in Toronto by Noura Sakkijha and Majed Masad as a direct-to-consumer fine jewelry brand targeting everyday self-purchase.· pivot
2019
Raised $23M Series B led by NEA to accelerate online growth and open first physical showrooms.· banking
2024
Migrated e-commerce and point-of-sale to Shopify's unified commerce platform, completing the migration in under 9 months and expanding to 39 retail stores.· pivot
2024
Launched Afterpay Buy Now Pay Later on the new platform, driving a 50% basket-size increase and millions in incremental revenue.· lending
2026
MidCap Financial closed a senior secured credit facility to refinance existing debt and provide working capital for ongoing growth.· banking
The stack
Payments / PSP
Shopify Payments (inferred via Shopify unified commerce platform)
Lending
afterpayBuy Now Pay Later (Afterpay)
Accounting gap: none