Farfetch raises $66 million to fund growth
Farfetch, the online marketplace for independent fashion boutiques, has secured $66 million in funding which it will use to finance international growth and omni-channel development.
Private equity firm Vitruvian Partners led the Series D round of investment which also included existing investors Conde Nast International and Advent Ventures, as well as new investor Richard Chen from the Chinese venture capital firm Ceyuan.
Farfetch founder and chief executive Jose Neves said: “This round of investment will help fuel a number of our key strategic goals including facilitating our omni-channel proposition, escalating the development of local language sites for key new markets (Russia, Japan, China) and accelerating engineerng developments to help facilitate a dynamic responsive experience.”
Mike Risman, managing partner of Vitruvian Partners, added: “The growth of Farfetch, and the brands and boutiques it serves, has been very impressive as a result. We are delighted to have this opportunity to partner with a first-class entrepreneurial team and investor group. We trust that our investment will give Farfetch a very strong financial platform for its development plans.”
