Faire Wholesale Reaches $12.4 Billion Value in Funding Round

Online marketplace Faire Wholesale Inc. said it’s valued at $12.4 billion after a $400 million funding round.

The investment was led by Durable Capital Partners, D1 Capital Partners and Dragoneer Investment Group, the company said in a statement that confirmed an earlier Bloomberg News report on its funding plans.

Faire sells wholesale goods as varied as apparel and home furnishings to storefront businesses through its website, working with more than 250,000 retailers around the world. The San Francisco-based startup was valued at $7 billion in a funding round announced in June.

The capital raised in the round will ...