Frank & Oak raises $20 mln in Caisse de dépôt-led financing

Frank & Oak, a Montréal-based clothing brand, has secured about $20 million (US$16 million) in its latest financing. Caisse de dépôt et placement du Québec led the round and was joined by other investors, including Goodwater Capital and Investissement Québec. Founded in 2012 by CEO Ethan Song and COO Hicham Ratnani, Frank & Oak provides clothing and accessories for men and women on the web and in 16 boutiques. It will use the funds raised to expand its digital experience and support growth online. Frank & Oak's other investors include BDMI, Campfire Capital, Lightbank, Real Ventures, Rho Canada Ventures and Version One Ventures.