Farfetch Said Valued at Almost $1.5 Billion After Fundraising
- Startup raises $110 million from Temasek, other investors
- Online fashion company eyes initial public offering next
Farfetch is bucking the trend of declining valuations in startup land, after its latest funding round valued the online luxury fashion company at just under $1.5 billion, according to a person familiar with the matter.
The London-based startup, founded by former shoe designer Jose Neves, raised $110 million from investors including Temasek Holdings Pte, a Singapore sovereign wealth fund, and Chinese venture firm IDG Capital Partners, it said in a statement Wednesday. The $1.5 billion valuation, which includes investors’ latest contributions, is up from $1 billion last year and may be the last before an initial public offering in the medium term, the person said, asking not to be identified discussing a private matter. A Farfetch spokeswoman declined to comment beyond the statement.