Startups & Funding
Quince raises $500 million at $10.1 billion valuation
Quince raised $500 million in a Series E round led by Iconiq, pushing the e-commerce company’s valuation to $10.1 billion as it scales its manufacturer-to-consumer model.
On Wednesday, the e-commerce company Quince announced that it has raised a $500 million Series E funding round. The late-stage round, which was led by investment firm Iconiq, values the company at $10.1 billion. This new valuation more than doubles the reported $4.5 billion valuation from Quince’s previous Series D funding round in early 2025, which raised $200 million and was also led by Iconiq.
Quince, which launched out of beta in 2020, operates under a “manufacturer-to-consumer” model. This is a business model where the company manufactures and sells directly to consumers. This approach allows the company to offer products ranging from a $50 cashmere sweater to home goods. The strategy has driven significant growth, with Quince’s top-line revenue now surpassing $1 billion. In January, the company also expanded its operations into Canada.
The Series E round also drew participation from a wide group of investors. Other participating investors in the round include:
- Basis Set Ventures
- Wellington Management
- WndrCo
- MarcyPen Capital Partners
- Ballie Gifford
- Notable Capital
- DST Global
Despite its financial growth, Quince faces legal challenges from several established brands. Coach parent Tapestry is suing, as is Williams Sonoma. Footwear company Deckers also sued over footwear designs, but a court ruled in Quince’s favor. If such scuffles have given Quince a copycat reputation, the site’s customers are apparently unphased by the allegations, as the company’s top-line revenue has continued to grow past the $1 billion mark.
Why it matters
The valuation jump for an e-commerce player in a market currently dominated by artificial intelligence funding signals continued investor appetite for direct-to-consumer retail models that can demonstrate significant scale.