Total amount raised
$1.7 Billions
Latest funding date
Location
Title
Faire has successfully raised significant funding over multiple rounds, attracting notable investors such as Shopify and Sequoia Capital. The platform serves as a wholesale marketplace, connecting retailers with unique brands and offering features like net 60 payment terms and free returns.
Keep reading to explore the intricacies of Faire's fundraising journey and the investors backing this innovative platform.
What Is Faire?
Founded in 2017, Faire is a wholesale marketplace headquartered in San Francisco, California, with an additional location in Kitchener, Ontario, Canada. The company was established by Daniele Perito, Jeffrey Kolovson, Marcelo Cortes, and Max Rhodes.
Faire connects retailers with unique brands, offering a platform to discover and buy wholesale merchandise. The company provides net 60 payment terms and free returns, making it easier for local retailers to compete with larger businesses.
With a workforce of 1001-5000 employees, Faire continues to support the future of local retail by offering simple tech, data insights, financial terms, and logistics solutions.
How Much Funding Has Faire Raised?
- Seed Round
- Amount Raised: $3.4M
- Date: November 2017
- Lead Investors: Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial features.
- Series A
- Amount Raised: $12M
- Date: February 2018
- Lead Investors: Forerunner, Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform.
- Series B
- Amount Raised: $40M
- Date: December 2018
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and increase market reach.
- Series C
- Amount Raised: $60M
- Date: December 2018
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop technology and data insights.
- Series D
- Amount Raised: $150M
- Date: October 2019
- Lead Investors: Founders Fund, Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new markets and improve logistics solutions.
- Series E
- Amount Raised: $170M
- Date: October 2020
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth during the pandemic and enhance financial terms for retailers.
- Series F
- Amount Raised: $260M
- Date: June 2021
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate international expansion and improve platform capabilities.
- Series G
- Amount Raised: $596.2M
- Date: November 2021
- Lead Investors: D1 Capital Partners, Dragoneer Investment Group, Durable Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and data insights for better retailer support.
- Series G
- Amount Raised: $416M
- Date: May 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and improve customer experience.
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: September 2023
- Lead Investors: Shopify
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen strategic partnerships and enhance platform features.
Faire has raised a total of $1.7076B. The current valuation is not publicly disclosed.
Key Investors
- Shopify
- Details: Shopify is a leading e-commerce platform that allows businesses to create online stores. Founded in 2006, it has grown to support over a million businesses worldwide.
- Investment Focus Areas: E-commerce, retail technology, online marketplaces
- Notable Investments: Faire, Tobi, Oberlo
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm founded in 1972, known for investing in early-stage and growth-stage companies. It has a strong track record of backing successful tech companies.
- Investment Focus Areas: Technology, healthcare, consumer services, financial services
- Notable Investments: Apple, Google, WhatsApp
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations. It was founded in 2000 and has offices globally.
- Investment Focus Areas: Enterprise, consumer, health, fintech
- Notable Investments: Snap, Affirm, Grubhub
- Y Combinator
- Details: Y Combinator is a startup accelerator that has funded over 2,000 startups since its inception in 2005. It provides seed funding, advice, and connections to help startups grow.
- Investment Focus Areas: Technology, software, consumer internet
- Notable Investments: Airbnb, Dropbox, Stripe
- Founders Fund
- Details: Founders Fund is a venture capital firm founded in 2005 by Peter Thiel and other PayPal alumni. It focuses on companies that are changing the world through technology.
- Investment Focus Areas: Aerospace, artificial intelligence, biotechnology
- Notable Investments: SpaceX, Palantir, Facebook
What's Next for Faire?
Faire stands at the cusp of significant growth opportunities, driven by the increasing demand for unique, locally sourced products. The wholesale marketplace is poised to capitalize on the trend of consumers seeking personalized shopping experiences, which can substantially expand its market reach.
Future fundraising efforts will likely focus on scaling operations and enhancing technological capabilities to support this growth. However, challenges such as navigating supply chain complexities and maintaining competitive financial terms for retailers could pose hurdles. Despite these potential obstacles, Faire's strategic positioning and robust investor backing suggest a promising trajectory ahead.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like Faire and gather other critical business insights.
Sign up for free on Clay and start leveraging these powerful tools today.
