Gilt Groupe Inc. Manages to Raise $15million in Debt Financing

Due to a rising demand, Gilt Groupe Inc. looked towards Triple Point Capital for $15million and has managed to raise the same in debt financing. This three year old company is a members-only online retailer focused on luxury brand. He company has a deal site called Gilt City and is offered in Boston, Chicago, Los Angeles, Miami, New York and San Francisco.

The low borrowing costs and growing interest in coupon sites has helped Gilt Groupe to raise the needed funds. It is great news for the company as equity financing requires the startups to give up a stake in their business, whereas debt financing allows these companies to raise funds without having to give up ownership. The company has raised almost $83 million in venture funding from General Atlantic LLC and Matrix Partners in the past.

Gilt offers as much as seventy percent off on items such as luxury apparel, home entertainment and luxury travel, and boasts of some of the best brands in the world. Triple Point started in 2006 and has loaned and leased out almost $1 billion till date to several venture- backed companies. Some of its clients have included names such as Facebook Inc., Etsy Inc. ,Chegg Inc. etc.

Via: Bloomberg

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