Gibraltar Business Capital (GBC) closed a $12.5 million senior secured revolving credit facility for Sharebite, an enterprise meal benefits platform headquartered in New York. The new facility refinances Sharebite’s existing credit facility and provides additional working capital flexibility to support the company’s continued growth, technology investments and innovation initiatives.
GBC understood the dynamics of Sharebite’s business, including the nuances of its technology-driven billing cycles and high-quality enterprise receivables, and crafted a customized facility aligned to the company’s needs.
“As Sharebite continues to scale, we wanted a partner that understood the quality of our enterprise receivables and the operating dynamics of our platform,” Dilip Rao, founder and CEO of Sharebite, said. “Gibraltar moved quickly, took the time to understand our business and structured a facility that truly aligns with how we operate and grow.”
Scott Winicour, CEO of GBC added, “Sharebite is exactly the kind of innovative, high-growth company we built GBC to support. Their technology platform is differentiated, their client base is blue-chip, their people are extremely talented and the company has built an impressive operating foundation. We were able to understand the unique needs of their business and build a structure that truly fits how the company operates.”