Farfetch raises USD 250 mln from Tencent and Dragoneer

Friday 31 January 2020 14:53 CET | News

Farfetch, a global technology platform for the luxury fashion industry, has raised USD 250 million from Tencent and Dragoneer to support its continued growth.

Farfetch agreed to issue and sell, via a private placement, convertible senior Notes in an aggregate principal amount of USD 250 million. Tencent, a China-based global technology pioneer, has committed to a strategic investment by agreeing to purchase USD 125 million of the Notes, and US-based investment firm Dragoneer has agreed to purchase the remaining USD 125 million of Notes.

The financing will supplement Farfetch’s current liquidity position. As of 31 December 2019, the company’s cash and cash equivalents balance amounted to approximately USD 320 million.

The additional capital supports Farfetch’s long-term strategy of delivering a global technology platform for the luxury fashion industry and facilitates the company’s continued focus on executing its growth plans, including in the key China market, and driving towards operational profitability.

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Keywords: Farfetch, Dragoneer, Tencent, technology platform, fashion industry, investment
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce