Grana Group bulks up with venture debt

Nov 21, 2017Updated May 25, 20251 min read

After raising US$16 million in venture funding from backers including Alibaba, online apparel brand Grana Group has boosted its coffers with an undisclosed amount in venture debt.

The three-year-old online fashion startup will use the funds, from Hong Kong asset manager STI Financial Group, to improve its cash-flow management and advance its use of artificial intelligence for customer engagement. Using venture debt means the company can grow its business without having to dilute its share capital while working toward series-B funding at the end of next year, reports Deal Street Asia.

Based in Hong Kong, the startup was founded by Australian entrepreneur Luke Grana. Its earlier funding included $6 million in seed money and $10 million as a series-A round.

The company has an 18,000sqft (1700sqm) global distribution centre that ships to 67 markets. It has also opened 15 pop-up showroom-experience centres across Hong Kong, Singapore, the US and Australia.

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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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