Quince has raised USD 500 million in a Series E funding round, valuing the company at USD 10.1 billion, as the US-based consumer technology platform looks to expand its manufacturer-to-consumer retail model globally, according to media reports.
The funding round was led by ICONIQ Capital with participation from investors including Basis Set Ventures, Wellington Management, WndrCo, Marcy Venture Partners, Baillie Gifford, Notable Capital and DST Global.
Quince operates a manufacturer-to-consumer (M2C) platform, connecting factories directly with customers to eliminate traditional retail markups and reduce inventory risks.
The company sells a range of products including fashion apparel, accessories, home goods and lifestyle products, positioning itself as an affordable alternative to premium brands by cutting intermediary costs in the supply chain.
The latest capital will be used to expand Quince’s global footprint, strengthen its supply chain infrastructure and scale its technology platform that integrates demand forecasting, production planning and direct factory relationships.
Quince has seen rapid growth in recent years, with annual revenues crossing USD 1 billion and expanding operations beyond the United States into international markets including Canada.
The funding underscores strong investor interest in direct-to-consumer commerce platforms that leverage technology to streamline production, pricing and distribution in the global retail market.
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