Fab Announces $10M Investment From Singtel Innov8 As Continuation of Series D Round. @fab @singtelinnov8 @singtel
I’m pleased to share that as part of our ongoing Series D round of financing, SingTel Innov8, the corporate VC arm of the SingTel Group, Asia’s leading communications group, invested $10 million in Fab today. This is a particularly meaningful relationship for Fab as we are very pleased to have SingTel’s insight as we explore our expansion plans in the Asia region.
Fab is the place to discover the most exciting things in your life. Today, Fab sells in 29 countries across North American and Europe. We are developing plans to bring the Fab lifestyle to Asian markets.
SingTel has a lot in common with Fab – they serve a growing, young, and sophisticated population of consumers who are looking for lifestyle products to reflect their optimistic, dynamic and vibrant approach to life. That matches well with the predominantly 25-45-year-olds who come to Fab to browse and buy unique and compelling items they’ll live with in their homes, wear, and gift.
Jeff Karras, Managing Director of SingTel Innov8, said, “Fab has a unique and growing business, and is exactly the kind of company SingTel looks to partner with to best serve our customers in Asia. We are pleased to lend SingTel’s market knowledge and networks to facilitate seamless connections between infrastructure, technology and customer reach as Fab continues to build their global lifestyle brand.”
Since our last blog post announcing the initial round of Series D financing (which now brings our total fundraising to $320 million), Fab has made huge strides in executing against our priorities and vision. Most importantly, we announced the centralization of our operations at our New York headquarters, underscoring our shift from a flash sales model to more of a comprehensive global online lifestyle shop. We have momentum, we have growth, we have a solid team in place, and we have millions of customers worldwide that we want to continue to fall in love with Fab.
More Series D investors will be announced in the future, and we’ve decided to share that news as it occurs, rather than hold to announce all at once.
We believe that SingTel will be an integral part of creating a superior customer service experience in Asia and are pleased to welcome them as part of our Series D financing round.