Beyond the Rack Receives $3M Loan from MMV Financial

Beyond the Rack, a Montreal, Canada-based members-only private shopping club that offers moderate to luxury merchandise at up to 70% off of retail price, has received a $3m loan from MMV Financial.
The company, which has raised $16.5m in venture capital to date, intends to use the proceeds from MMV to expand operations.
Led by CEO Yona Shtern, Beyond the Rack offers members a wide selection of product lines including ladies and men’s apparel, accessories, footwear, homeware, watches, jewelry, cosmetics, kids and other emerging merchandise categories in up to 18 private sales events per day.
The company, which also operates an office in New York, has a staff of 200 full-time employees and over three million North American members.

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