What’s going on here?

Farfetch, a luxury technology platform, has raised $125 million from Tencent and $125 million from Dragoneer through the sale of convertible senior notes.

• Tencent is a global technology company based in Shenzhen, China, and
• Dragoneer is an investment firm based in San Francisco. 

The journey ahead

Farfetch will use the capital to continue growing and expanding into new markets, particularly China.

• Tencent is helping the company reach the market through its WeChat platform.  Farfetch has over 80 luxury brands on WeChat, which include Moncler, Balenciaga, Saint Laurent, Armani and Ralph Lauren.
• “Under José’s leadership, Farfetch has established itself as the leading global technology platform for luxury fashion, capturing market share and delivering a unique service to its growing customer base and its community of brands and boutiques,” said Marc Stad, founder & managing partner of Dragoneer.

Content source: PYMNTS. (2020) Farfetch Raises $250M To Grow Luxury Fashion Platform. Available from: https://www.pymnts.com/news/investment-tracker/2020/farfetch-luxury-fashion-platform-raises-250m/ [Accessed 1 February, 2020]