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Summary:

Subscription e-commerce startup JustFab, which merged with ShoeDazzle last month, has raised $40 million in a Series C round.

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Just a month after merging with former rival ShoeDazzle, subscription e-commerce startup JustFab has raised $40 million, led by Hong Kong-based Shining Capital Management. The Series C round of financing brings the company’s total amount raised to almost $150 million and will be used to boost international expansion, broaden its range of products and fund potential acquisitions.

While consumers can purchase fashion and accessories from plenty of sites, JustFab said it’s been able to reach 35 million members with exclusively-designed styles and a subscription plan that lets “VIP members” purchase monthly items for $39.99. The startup has said its goal is to be “the next H&M or Forever 21-type brand.”

In the last year, it’s extended its service to Europe and Canada and said that in Europe alone, it’s added more than three million members, with 400,000 new European members joining every month.

In addition to Shining Capital, previous investors Matrix Partners, Technology Crossover Ventures, Rho Capital Partners and Intelligent Beauty participated in the round.

  1. Its a good effort and $150 million a huge amount. On the other hand its too good for consumers also as they could access for many sites.

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  2. Yowzers that is a lot of cash money. I can’t wait for them to come to Australia… Having just moved there I am really missing my JustFab shoes. I also kind of miss their commercials on tv too, lol. Their last one was pretty funny. You can see it on http://www.justfab.tv now if you haven’t already.

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