London-based Fashion eRetailer Lyst has raised a funding of $40 million. Lyst is a site that lets people shop across 11,500 different online stores using a single check-out. The new funding is raised from Arnault Group and previous investors Accel, Balderton, 14W and DFJ, and an unnamed New York hedge fund.
The new funding makes the total investment raised by the Fashion retailer to $60 million. This fund will be used to enhance and better the user experience.
In the light of other fashion eCommerce companies such as FarFetch and Shoptiques growing in U.K, Lyst intends to stand out by its distinct feature of ‘a single shopping cart’ that helps in making the whole experience particularly seamless and easy to understand.
Lyst was founded in 2011 in London by Chris Morton and Sebastjan Trepca. The company already claims to have generated “hundreds of millions” in sales for the stores and designers that sell on the site, with its international customer base (150+ countries) on average spending $400 per order, as reported by TechCrunch.