Lyst raises 85 million dollars

Online fashion platform Lyst has raised 85 million dollars with plans for an IPO in the works. The company did not disclose the valuation at which it’s secured its pre-IPO financing round.

The London-based company, which is essentially a marketplace for fashion products across many brands, department stores, and other e-commerce sites, has been seeing growth over the past several year. Currently, the platform has 150 million users and sales hit 500 million dollars last year. Since Lyst only takes a commission on sales, their total revenue is lower.

The latest round of investing comes from partners including Fidelity International and C4 ventures, with addition investment from entrepreneur Carmen Busquets. The company’s existing investors include LVMH, Balderton Capital, and Draper Esprit.