Jose Neves, founder, CEO, and co-chairman at Farfetch. Farfetch

LONDON — Europe's next major tech IPO is on the horizon.

José Neves, chief executive of luxury fashion website Farfetch, told The Telegraph that a float would be "the next logical stage" for his company.

A Sky News report in June suggested Farfetch was close to picking bankers to underwrite a $5 billion (£3.85 billion) IPO in New York.

Farfetch hasn't commented on the speculation until now.

Neves said: "It's the next logical stage for the company.

"We are very well funded and we are cash flow positive so we don't have to raise funds ... but we have venture capitalists and private equity firms as investors and they look for an exit."

Neves also said Farfetch was like a hybrid of two other startups, saying: "We are like an OpenTable plus Deliveroo."

A Farfetch IPO might reignite the British tech IPO market, which has stalled since the UK voted to leave the European Union. Like most other European entrepreneurs, Neves is not a fan of Brexit.

He told The Telegraph: "I see no upside to Brexit from a business point of view. I won't get into the politics. We won't be, and haven't been, too affected so far as we source and ship to 40 different countries. But I am concerned about what happens to our talent as we have 25 different nationalities, including myself, at Farfetch."

Founded in 2008, Farfetch has raised $693.8 million (£535 million) to date, making it one of the best funded private tech startups in Europe. The company was valued at $1.5 billion (£1.1 billion) in a funding round last year, making it one of Britain's few "unicorns" — private companies worth over $1 billion (£771 million).

Its investors include Advent Venture Partners, Felix Capital, and Condé Nast. Earlier this year, Chinese online mall JD.com became one of Farfetch's biggest shareholders after injecting $400 million (£315.5 million) into the firm.

The firm's most recent public accounts show it lost £28.6 million on revenues of £87.1 million in 2015.