Faire, a San Francisco, CA- and Kitchener-Waterloo, Canada-based online wholesale marketplace, raised $260m in Series F funding.
The round, which valued Faire at $7 billion, was led by Sequoia Capital with participation from existing investors as well as new global investors Baillie Gifford and Wellington Management.
The company intends to use the funds to continue to continue to build tools and market events, hire talent to increase headcount across all global offices, as well as introduce Faire into new markets.
Founded in 2017 by Square alumni Max Rhodes (CEO), Marcelo Cortes (CTO), Jeff Kolovson (COO), and Daniele Perito (CDO), Faire is a online wholesale marketplace connecting more than 200,000 retailers across North America and Europe with 20,000 brands from over 80 countries. The company is now operating across the largest markets in Europe including the United Kingdom, Netherlands, France, Germany, Spain, and Italy, with plans to expand across all of continental Europe in the coming months.
The company is also located in Salt Lake City, Atlanta, Toronto, London, and São Paulo and has roughly 500 employees.