(Bloomberg) -- Faire Wholesale Inc. is in talks to raise financing that would bring the startup's valuation to about $12 billion, according to people familiar with the matter. Faire was valued at $7 billion in a funding round announced in June.
The San Francisco-based startup sells items to local shops, helping furnish small business's storefronts. According to Faire's website, the startup offers more than 250,000 retailers wholesale items ranging from jewelry to home decor.
The company counts Sequoia Capital, Founders Fund, Lightspeed Venture Partners, Khosla Ventures and Forerunner Ventures among its existing investors. Some of its existing investors plan to put more money in again, said the people, who asked not to be identified discussing private information. They added that the terms of the latest deal had not been finalized and could still change.
Faire did not immediately respond to a request for comment.
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