Rent the Runway, a New York City-based provider of a platform for women to rent designer dresses, apparel and accessories, raised $200m in debt financing.
Temasek, the investment arm of the Singaporean government, provided the loan.
The company intends to use the funds to expand the offering, invest in logistics operations, and to refinance previous debt.
Founded in 2009 by Jenn Hyman and Jenny Fleiss, Rent the Runway is an online platform that provides designer dress and accessory rentals. Initially a purely e-commerce company, the company later opened retail locations in New York City, Chicago, Washington, D.C., San Francisco, and Los Angeles.