Fashion e-commerce company Farfetch has exited US-based online wardrobe management service Finery in an acquisition by personal styling platform Stitch Fix, Yahoo Finance has reported, citing an internal email.
Finery is the creator of an online wardrobe platform that lets users keep track of their clothes and assess how possible purchases would fit with their current items. It works by scanning receipts supplied by the user.
Farfetch and BBG Ventures, the female-focused venture capital firm spun out of telecommunications company Verizon, were part of a $5m seed round the company closed in January 2018.
New Enterprise Associates led the round, which also featured C Ventures, Correlation Ventures, Next Coast Ventures, Halogen Ventures and various angel investors.