Quince raises $500 million at $10.1 billion valuation
Online retailer Quince said on Wednesday it has raised $500 million in a Series E funding round at a post-money valuation of $10.1 billion, signaling strong investor appetite for tech-enabled retail platforms benefitting from resilient spending by wealthy shoppers.
The funding was led by ICONIQ Capital, with participation from Basis Set Ventures and Wellington Management among other backers, the company said in a statement. The San Francisco, California-based online platform sells a range of products including apparel, jewelry and home goods, working directly with manufacturers to make and ship items to customers without traditional retail distribution layers.
