Led · Debt Financing · Nov 2022

Everlane is a digitally native retailer focused on sustainable apparel, accessories, and footwear. The company obtained a $25M term loan from Gordon Brothers to support continued growth and sustainability initiatives. The loan is secured by Everlane’s digitally native brand and working capital assets. Gordon Brothers framed the deal as a multi-asset lending solution and provides both short- and long-term capital to clients undergoing transformation. Everlane’s CFO said the financing will help build a better capitalized business and that the company is poised for continued expansion as it resonates with consumers making active purchasing decisions. Everlane is a stealth e-commerce platform co-founded by Michael Preysman that plans to sell designer-quality goods always under $100. The site operates as a members-only service that launches a new collection each month and invites members to vote and comment on new products. Everlane says it bypasses middlemen in manufacturing to cut roughly 90% of traditional retail costs and incorporate consumer feedback in real time. Product plans focus on American Apparel–style basics (t-shirts, sweatshirts) plus monthly accessory lines, including jewelry, that expire each month. The company has recruited retail executives from American Apparel, including that company’s former brand director and former content director, and aims to become a broader lifestyle brand similar to American Apparel or J.Crew. Everlane was still one month from its public launch at the time of reporting.

Led · Equity · Sep 2021

FoxPoint Trucks, LLC (doing business as OTR Leasing) is a technology-enabled specialty finance company that leases Class 8 trucks. The company uses a proprietary technology platform to acquire trucks, originate leases, and manage large portfolios of trucking assets throughout their life cycle. Management says the platform has decreased lease defaults and driven scalable, efficient growth; FoxPoint doubled the size of its portfolio in the past 18 months. The $85 million capital will be used to refinance existing debt and support continued expansion of the truck fleet. Leadership positions the funding as a way to fuel rapid growth and broaden opportunities for professional drivers and owner-operators. The company was founded in 2013 and is based near Kansas City, Missouri.

Led · Debt Financing · Jun 2021

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.