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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. Shore was founded in 2012. The approx. 80 employees in the Munich and Berlin offices are dedicated to serving more than 10,000 customers from around 60 countries.
Getting access to debt to reduce dependence on equity
Shore was looking for additional funding to extend their cash 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
From his network, Nikbin heard about alternative debt funding solutions 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, Shore is investing in growth activities and building a bridge to profitability.
By adding the alternative debt funding solution from re:cap, 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.
