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Kitchener’s Faire, the online wholesale marketplace connecting more than 200,000 retailers across North America and Europe with 20,000 brands from over 80 countries, has closed a $260 million Series F round led by Sequoia Capital.
The funding, which includes all existing investors as well as new global investors Baillie Gifford and Wellington Management, values Faire at $7 billion, nearly tripling the Kitchener-Waterloo startup’s previous valuation of $2.5 billion announced just over six months ago.
This funding and vote of confidence from world-class investors comes just weeks after Faire’s expansion into Europe, which brings the platform’s powerful cross-border network effects to the $1 trillion European market.
Faire’s entrance into Europe, one of the world’s largest and most diverse economies, represents a significant opportunity to accelerate and strengthen the combined competitive power of the international independent retail community.
Faire has grown to roughly 500 employees, and expects to double headcount in the next year.