Beyond The Rack Receives $10M Venture Debt Financing from Wellington Financial

Beyond The Rack, a Montreal, Canada-based online shopping club, has received a $10m venture debt financing from Wellington Financial LP.

The company intends to use the proceeds to grow across North America.

Led by Yona Shtern, Co-Founder and CEO, Beyond the Rack is an online shopping club that offers fashion, accessories, beauty and home décor products at discounted prices via limited-quantity (up to 15 new) events each day.
The company, which employs 400 full-time people in Montreal and New York, has over 7.5 million members and deals with more than 3,000 brands.

It is backed by venture capital firms including BDC Venture Capital, Export Development Canada, Highland Capital Partners, iNovia Capital, Panorama Capital, Rho Canada, and Tandem Expansion Fund.



Related News
09/11/2011: Beyond the Rack Closes $36.6M Funding
12/07/2010: Beyond the Rack Raises $12M
28/01/2010: Canada, Beyond the Rack Raises $2M in Equity Financing

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