Shore is the all-in-one solution to digitize your retail or service business. Shore gives your customers the opportunity to book their appointments online via website, Facebook, Instagram and Google and sends automatic appointment reminders. Digital employee and customer management is complemented by perfectly integrated hardware such as an iPad POS system and a mobile card reader.
Getting access to debt products to reduce dependence on equity
Shore was looking for additional funding to extend their runway and, thus, their lifetime. As a digital SaaS company though, it was not easy to get additional funding from most debt providers, seeing as digital assets are often not recognized, and financing terms are undesirable.
Nikbin Rohany (Shore CEO), started talking to equity providers but also wanted to add a debt component to avoid massive dilution of equity and reduce the dependency on one type of financing. Hence, he discussed his situation with CFOs and founders in his network to find a solution.
Runway extension and building a bridge to profitability with re:cap
From his network, Nikbin heard about recurring revenue financing and started talking to different providers. In the end, re:cap convinced him with its offer, team and product.
With re:cap, Shore is now able to extend their runway and add a debt component to the equity round they were also able to raise. With the additional capital from re:cap, Shore is investing in growth activities and building a bridge to profitability.
By adding recurring revenue financing, Shore diversified and optimized their capital stack and is now able to use the right type of capital for the right investments - for example, using re:cap for growth activities with a predictable ROI, like marketing or sales, while using venture capital for more risky investments, like new product development.
Learn more about how re:cap can extend your runway and enable you to build a bridge to profitability here.
Shore is the all-in-one digital solution for small and medium-sized businesses in the retail and service sector. Enterprise customers are offered individual solutions.
By digitizing processes, Shore saves time and money and increases customer satisfaction. This includes an online calendar with appointment booking and reminder function, including bookings directly via Google or Instagram, a customer management software, shift planners, and various marketing tools.
The software is complemented by seamless integrated hardware: an iPad POS system and a customer display to a mobile card reader. In addition, Shore offers customers the option of hosting their own app or website.
Shore was founded in 2012. The currently approx. 80 employees in the Munich and Berlin offices are dedicated to serving more than 10,000 customers from around 60 countries.
Learn more about Shore here: https://www.shore.com/en/