Farfetch, a fashion startup based in London, has raised a large new round of funding, according to sources familiar with the company. The round, which sources say is worth $40 million, is expected to close this week. Rumors of the company raising between $30 million and $40 million have swirled since March.
The company previously raised $42.5 million over three rounds of funding from Index Ventures, Advent Venture Partners, E.ventures, and Conde Nast.
Farfetch offers independent boutiques the ability to sell their high-end goods through an online marketplace. The company also has an affiliate program for fashion bloggers and influencers. Founded in 2008, Farfetch had 250 boutiques on its platform, offering 82,000 products from 2,000 brands to 150,000 customers in 140 countries, as of one year ago.
Those figures come from the last funding announcement in March 2013, when Farfetch raised $20 million from Conde Nast and existing investors. At that time, the company reported 4.3 million monthly unique visitors and $129 million in annual sales with a 145% growth rate.
The company declined to comment.
Update: The company has announced the round, which was significantly larger than initially reported. FarFetch raised a total of $66 million from Vitruvian Partners with participation from Conde Nast and Advent International.
