FUND RAISING: JustFab Inc. is in the money. The subscription shoe Web site has raised $40 million in Series C funding led by Hong Kong-based Shining Capital Management. El Segundo, Calif.-based JustFab will use the money to further its global reach and finance acquisitions. “We are adding over 400,000 new members every month in Europe, proving that our value proposition and subscription model resonates with shoppers all over the world,” said Adam Goldenberg, co-chief executive officer of JustFab, which recently acquired ShoeDazzle. JustFab is already available in Canada, Germany, France, Spain and the U.K. In Germany, it has more than 3 million members out of its worldwide total of over 35 million.
Shining Capital is particularly interested in launching JustFab in China. “We are excited to be working with them as they apply their impressive expertise and vision to new global markets which have tremendous growth potential, such as China,” said Xiangwei Weng, founder of Shining Capital. In addition to Shining Capital Management, existing investors Matrix Partners, Rho Ventures, Technology Crossover Ventures and JustFab’s parent company Intelligent Beauty participated in the Series C funding round