Everlane Raises $90 Million in Debt

The basics brand just bagged a fresh round of funding to shore up its expansion plans. The direct-to-consumer company, one of the earliest digital native startups in apparel, has secured $65 million in revolving credit and an additional $25 million loan, its financial partners announced Thursday. Modern Retail first reported the news.

The company will use this cash infusion to open more stores and develop new products, according to Michael…