Faire, a San Francisco, CA-based B2B retail marketplace, received an investment form Shopify (NYSE:SHOP).
The amount of the deal was not disclosed.
This partnership brings together two category leaders in retail and commerce to expand Shopify’s B2B offerings and help drive growth for the brands and independent retailers the two companies serve.
Led by Max Rhodes, co-founder and CEO, Faire is an online wholesale marketplace used by independent retailers to discover, source, and sell products around the world. It offers net 60 payment terms and free returns on opening orders, eliminating inventory risk and providing access to capital. For brands, the platform provides sales, marketing, and analytics tools, so sellers can simplify their wholesale business and focus on making products. To date, Faire has facilitated nearly 7M new connections between brands and retailers on the platform.
Shopify is a commerce company that provides essential internet infrastructure for commerce, offering trusted tools to start, scale, market, and run a retail business of any size. It offers a platform and services that are engineered for speed, customization, reliability, and security, while delivering a better shopping experience for consumers online, in store and everywhere in between.
FinSMEs
29/09/2023