farfetch.com, a London, UK-based company that operates an online fashion marketplace for independent fashion boutiques from across Europe and North America, has received a $4.5m growth equity investment from Advent Venture Partners.
The proceeds from the investment will be used to continue its expansion in Europe, North America and Brazil. In this latest country, farfetch.com is building a network of independent boutiques and designers who will sell through its dedicated marketplace.
In conjunction with the financing, Frederic Court, General Partner at Advent, will join the company’s board of directors. farfetch.com is also adding Susanne Tide-Frater as Brand and Strategy Director and Andrew Robb as Chief Operating Officer.
Founded by José Neves in October 2008, farfetch.com expanded to North American boutiques in 2009. The site currently represents 44 boutiques that sell over 1,000 brands and 11,000 individual lines through the marketplace. farfetch.com has customers in over 100 countries. Approximately 40% of orders come from the UK and Europe, 30% from North America, 15% from Asia and the Middle East, 5% from Australia and 5% from Brazil and the rest of South America.