After successfully connecting consumer brands with independent entrepreneurs in the United States and Canada for the last four years and two years, respectively, B2B marketplace Faire has expanded to Europe and is continuing its rapid growth. The marketplace started with a trial in the UK and the Netherlands at the beginning of the year, followed by Faire marketplaces in France and Germany, which were also well received.
Since then, Faire has expanded further and is now available in 15 European countries; apart from the four mentioned above also in Austria, Belgium, Denmark, Finland, Ireland, Italy, Luxembourg, Norway, Spain, Sweden and Switzerland. The company, which employs 600 people, cemented its commitment in Europe by opening an office in London after offices in the US, Canada and Brazil.
“We know that for brands, selling in new countries may seem daunting. Our aim is to make selling in France, Germany, and additional EU countries as seamless and successful as possible,” says Faire on their website.
As incentives, it will fund free shipping and other benefits through the Faire Direct tool to European retailers and handles shippings logistics through Ship with Faire for US brands as well as 60-day payment terms and even a 90-day special deal that ends today.
Faire also offers a cash incentive of 500 US dollars for any European brand that a US brand refers to the site. In addition, there is a support guide for selling internationally that addresses VAT, customs, import regulations and other issues, as well as a toggle button for US brands that adjusts EU-specific pricing and minimum order settings.
Faire was founded in San Francisco in 2017 by Max Rhodes, Marcelo Cortes, Jeffrey Kolovson and Daniele Perito and has grown to a community of 30,000 brands and 250,000 retailers. In June, Faire carried out a new funding round worth 260 million US dollars, which increased its valuation to a whopping close to 7 billion US dollars.