Term Sheet

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Style site Fancy raises $26 million

October 29, 2012: 1:08 PM ET

Fashion-focused e-commerce site nets big new financing round.

FORTUNE -- Online style curator The Fancy has raised more than $26 million in new venture capital funding, according to a regulatory filing.

No new investor information was disclosed, but the company does seem to have added American Express (AXP) vice chairman Ed Gilligan to its board of directors. Unclear so far if Amex actually invested.

Other members of the high-powered board include Jack Dorsey (Square CEO, Twitter co-founder), Francois-Henri Pinault (PPR CEO), Chris Hughes (ex-Facebook, current New Republic publisher) and Jim Pallotta (Raptor Capital Management).

Prior to this deal, The Fancy had raised around $18 million from firms like PPR, General Catalyst Partners and Allen & Co.

At first glance, The Fancy mostly looks like a Pinterest clone focused on fashion. The big difference, however, is that The Fancy allows browsers to actually purchase many of the items via its app. Not only does this mean that brands have a new marketing channel, but those who share the item also receive a small cut (estimated to be 2%) of sales that come through their posting.

No one is currently picking up the phone at The Fancy's New York City headquarters, likely due to Hurricane Sandy.

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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