The e-commerce company, which has received almost $80m from investors including American Express and Kering, is set to raise the funding at a $1.2bn valuation.

US-based Fancy, an American Express-backed e-commerce company that allows its users to curate its content, is looking to raise investment at a valuation of up to $1.2bn, Bloomberg has reported.

Founded in 2009, Fancy allows customers to curate items on its online store by ‘fancying’ them, which in turn promotes those items to other users of the site, who can then purchase them.

Fancy has raised $78m in funding to date, with payment services firm American Express investing in a…