Canada, Beyond the Rack Raises $2M in Equity Financing

Beyond the Rack, a Montreal, Canada-based operator of private sale shopping club Web sites, serving members throughout the United States, Canada, and other countries around the world, closed a USD$2m equity financing.
The round was led by European Internet entrepreneurs Oleg Tscheltzoff and Oliver Jung, as well as Montreal-based venture fund Montreal Start Up.
The company, which currently employs 75 full-time permanent people, had previously received USD$2.5m in equity funding.
As stated by the company’s CEO Yona Shtern, this latest investment will allow Beyond the Rack to continue to expand rapidly.

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