Moda Operandi, a luxury fashion discovery platform, has raised $100 million in new equity and debt financing in a round led by existing investors New Enterprise Associates and the Apax Digital Fund. Moda will use the proceeds to invest in its core client experience and improve its shopping model and curation capabilities, as well as the underlying data and technology systems that power the platform.
“For the past nine years, Moda has disrupted the way people shop for luxury fashion,” said Moda Operandi CEO Ganesh Srivats in a statement. “This investment will enable us to build on that innovation, investing further in the client and designer experience and connecting more of the world’s best fashion to more people.”
Moda Operandi’s uses a “Trunk Show” model that revolves around selling items to consumers directly from the runway. Customers can purchase complete looks as worn by the models, preorder items in real time or choose to browse at the retailer’s e-Commerce shop for clothing and accessories.
The new commitment builds on previous fundraising, including a $165 million round in 2017, to bring the retailer’s total capital raised to $345 million. Other investors in the latest round included the Santo Domingo family, Comerica Bank and TriplePoint Capital.