Online B2B wholesale marketplace Faire has closed a $400 million Series G funding round, its third in the last year. With this latest round, which pushes the company’s total funding to date above $1 billion, Faire is now valued at $12.4 billion.
This round comes just five months after the close of Faire’s Series F and the company’s expansion into 15 markets across the UK and Europe — a region that has grown by more than 10X for the company since its initial launch there in March 2021.
Founded in 2017 by Square alumni Max Rhodes (CEO), Marcelo Cortes (CTO), Jeff Kolovson (COO) and Daniele Perito (CDO), Faire enables cross-border trade by helping entrepreneurs from around the globe connect in ways that were previously impossible or prohibitively expensive. Faire currently connects more than 300,000 retailers with 40,000 global brands, and annual GMV on the platform exceeds $1 billion.
“With our global reach, Faire is providing an even greater opportunity for the independent retail community to compete against big box giants,” said Rhodes in a statement. “By removing the traditional growth hurdles our customers face, we have enabled more opportunities, more connections and more possibilities for the entrepreneurs who use the platform. Our ability to deliver local and cross-border demand to brands, and in turn offer retailers access to a more expansive, data-driven selection, is how Faire will define the future of retail.”
The Series G funding round was co-led by new investor Durable Capital Partners and returning investors D1 Capital Partners and Dragoneer. The new capital will be used to continue to hire top talent, build new tools to equip its customers, grow Faire’s supply of global brands and introduce the platform into new markets.