Hong Kong-based investment firm Shining Capital Management has led a $40m Series C round for fashion subscription e-commerce company JustFab.
Existing investors Matrix Partners, Rho Ventures, Technology Crossover Ventures and Intelligent Beauty participated in the round.
The company said it will use the funds to “further its expansion plans for offering the latest fashions at affordable price points to consumers all over the globe.”
Shining Capital founder Xiangwei Weng said, “Adam and Don have built JustFab Inc. into the dominant force in fashion e-commerce both in the US and abroad in just three years.
“They are first-class entrepreneurs, and we are excited to be working with them as they apply their impressive expertise and vision to new global markets which have tremendous growth potential, such as China.”
In July last year JustFab raised $76m in a round led by multi-stage investor Rho Ventures with participation from Matrix Partners, Technology Crossover Ventures and JustFab parent company, Intelligent Beauty.
The company has recently bought venture capital-backed e-commerce company ShoeDazzle.
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