Beyond the Rack, a Canadian online shopping club, recently closed a US$10m debt and banking facility with Silicon Valley Bank.
The company will use the funds to continue to invest in growth.
Led by Yona Shtern, co-founder and CEO, Beyond the Rack offers products in categories, including ladies and men’s fashions, home and decor, consumer electronics, furniture, footwear, children’s toys and apparel, accessories, etc., by leading consumer brands. Its flash sale website features over 180 new sales events weekly, and launches 8,000 new items every day.
The company has over 13 million consumer members across Canada and the United States and 5,000 brand partners since first launching in 2009.
It has offices in Montreal, Toronto, New York and Las Vegas.
FinSMEs
03/10/2014