Lyst, a London, UK-based fashion shopping platform, raised $85m in funding.
Backers included Fidelity International, Novator Capital, Giano Capital and C4 Ventures, and earlier investors Draper Esprit, 14W, Accel, Balderton Capital, Venrex and LVMH.
The company, which is reportedly pursuing a public listing next year, intends to use the funds to continue to expand operations and its business reach.
Founded by Chris Morton, Devin Hunt, and Sebastjan Trepca in 2010, Lyst provides a fashion shopping platform that lets users to buy clothes and accessories from thousands of online stores. The company works as an inventory-free platform and leverages a proprietary data engine to give customers a really personalized shopping experience.
Why Investors Are Betting on Lyst businessoffashion.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessoffashion.com Daily Mail and Mail on Sunday newspapers.
Lyst attracts fresh investment
The premium fashion search platform secured new investment from funds managed by Fidelity International, Novator Capital, Giano Capital and C4 Ventures, as well as additional funding from existing investors including venture capital funds Draper Esprit, Steadfast Financial, 14W, Accel, Balderton Capital, Venrex and luxury goods company LVMH. In addition, entrepreneur and strategic adviser Carmen Busquets increased her investment.
Lyst also announced the appointment of Mateo Rando as the platform’s chief product officer. Previously Rando was product director for mobile apps globally at Spotify. He will focus on the Lyst app.
Emma McFerran has been promoted to chief operating officer and joins the platform’s board. McFerran was previously chief people officer and general counsel after joining Lyst in 2014.
E-commerce continues to be a huge focus for investors watching consumer behavior and spending patterns in the wake of the Covid-19 pandemic. In the latest development, UK startup Lyst, a portal for high fashion brands and stores to sell directly to users, has picked up $85 million, in what the startup is describing as a […]
Lyst Raises $85 Million, Plans for IPO businessoffashion.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessoffashion.com Daily Mail and Mail on Sunday newspapers.