B2B wholesale marketplace Faire is expanding into Europe with launches in the UK and the Netherlands, with plans to add additional European markets in the coming months.
Faire connects local independent retailers with brands and artisans from around the world. The marketplace currently serves 170,000+ independent retailers across North America and features a roster of more than 15,000 brands from 70 countries; the UK represents the third largest number of brands on the platform. As part of Faire’s international expansion the company also plans to open an office in London.
Faire aims to level the playing field between independent retailers and major national chains with offerings such as net-60 credit terms, free returns on opening brand orders, shipping solutions and data-driven recommendations and insights.
Created by four former Square employees in 2017, Faire was recently valued at $2.5 billion after its latest $170 million Series E funding round. The round was led by Sequoia Capital, which has also invested in Airbnb, Stripe, Robinhood, DoorDash and many other tech darlings.
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“We believe that with the right technology and resources, the independent retail community is an unstoppable force even in the face of insurmountable odds,” said Max Rhodes, CEO of Faire in a statement. “We are thrilled to begin servicing retailers in the UK, and also recognize that the challenges facing the retail landscape in Europe are unique. That’s why we’re grateful to be partnering with both global and local organizations, including the Department for International Trade and London & Partners, to ensure we can provide the distinctive support needed to tackle the demands facing the international retail industry today.”
