Moda Operandi operates an online platform for high-end, luxury fashion. The company secured a $13 million term loan provided by Gordon Brothers in partnership with investment bank Consensus to support a sale process. Moda Operandi used the financing to run a fulsome sale process and to achieve a positive outcome for equity holders and other stakeholders. Interim CFO Stephanie Roberts praised Gordon Brothers for keeping the financing process simple, straightforward, and executing as promised. Gordon Brothers characterized the transaction as leveraging its short- and long-term transition capital capabilities and domain expertise to underwrite structures and provide liquidity. The article does not disclose operating metrics or other financial details beyond the loan and sale process. Moda Operandi operates an online marketplace specializing in right-off-the-runway luxury fashion, accessories and home decor. Founded in 2010, it offers products from about 1,000 brands and designers and ships to 125 countries. The company says it will use the new funding to invest in its platform and technology and to continue growing the business, with a focus on the client and designer experience. CEO Ganesh Srivats framed the round as enabling further innovation and broader access to designers. Moda has raised $345 million to date; it did not disclose a current valuation, though PitchBook listed a $650 million post-money valuation from its 2017 round. The company faces competition from marketplaces like Farfetch and Net-a-Porter as well as direct-to-consumer brands and messaging-based retail channels, which could influence its future strategy. Moda Operandi operates an online platform that lets customers preorder unedited runway looks months before they are publicly available and offers a Boutique of curated in-season items from established and emerging designers. Led by CEO Deborah Nicodemus, the company combines preorder runway commerce with a curated retail offering. It completed a $165M growth funding round; prior to this round the company had raised over $132M. The company intends to use the funds to accelerate international expansion, with particular focus on Asia and the Middle East, and to develop its brand portfolio and expand new brand relationships. Moda Operandi also plans to increase development across business verticals, improve mobile technology, and advance customization and personalization. It will grow marketing and customer acquisition programs as part of its expansion strategy. Moda Operandi is a NYC-based online luxury retailer launched in February 2011 by Deborah Nicodemus and Lauren Santo Domingo. The company curates in-season items from both established and emerging designers, focusing on unedited runway collections offered before wider availability. It closed a $60m Series E financing and has raised over $130m in funding to date. Moda Operandi plans to use the new capital to expand into Europe, Asia and the Middle East, improve its mobile technology, grow its loyalty program and customer acquisition, and develop new brand relationships. Current shareholders include New Atlantic Ventures, LVMH and RRE Ventures, among others. Moda Operandi is a NYC-based online luxury fashion retailer that allows members to pre-order new styles. Led by Lauren Santo Domingo, the company works with top designers to provide access to collections and offers recommendations, a personal shopping assistant, and tools to review looks. According to WWD, it raised $20M in funding with backers including existing investors LVMH and Condé Nast. The company intends to use the funds to expand inventory and to go mobile. Moda Operandi is hiring. Related coverage notes prior raises of $36M in 2012 and $10M in a 2011 Series B.

Total raised

$368M

Funding rounds

7

Latest round

Debt Financing

Latest activity

Jun 2021