New York-based Moda Operandi raises $100 mn in new capital

05 Feb '20

2 min read

Pic: Moda Operandi

New York-based fashion discovery platform Moda Operandi recently announced raising $100 million in new equity and debt financing, led by existing investors New Enterprise Associates, Inc. (NEA) and the Apax Digital Fund, with additional participation from Colombia’s Santo Domingo family, Dallas-based Comerica Bank and TriplePoint Capital, among others.

The new commitment brings Moda Operandi's total equity capital raised till now to $345 million. The e-commerce platform was launched in February 2011 by Lauren Santo Domingo and Aslaug Magnusdottir.

The funds will be used by Moda for investment in its core client experience, innovative shopping model, unique curation of fashion, fine jewellery and home decor, as well as data and technology systems that power its platform, according to a press release from the company.

Dan O'Keefe, Managing Partner of Apax Digital, said: "We continue to be impressed with the power of Moda's brand and its positioning in the luxury market. Moda has been enhancing its technology capabilities as a world leading platform for fashion discovery and is led by a world-class team. We look forward to continuing to support their expansion."

"Moda Operandi has really disrupted the traditional ecommerce model, using technology to give people unprecedented access to fashion," said Tony Florence, general partner and head of technology investing at NEA.

Fibre2Fashion News Desk (DS)

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