Sharebite secures $12.5M revolving credit facility from Gibraltar Business Capital
What's the deal? Gibraltar Business CapitalDealroom has a profile for this one. Try Dealroom → (GBC) has closed US$8.09M senior secured revolving credit facility for Sharebite, the New York-based enterprise meal benefits platform. The facility refinances Sharebite's existing credit line and gives it extra working capital to fund growth and technology investments.
Sharebite, founded in 2016, builds meal benefits software exclusively for large corporate clients across sectors including tech, financial services, legal, automotive, and media. GBC, a Chicago-based specialty lender that provides asset-based loans of $10M to $100M, structured the deal around Sharebite's recurring revenue model and enterprise receivables.
"Gibraltar moved quickly, took the time to understand our business, and structured a facility that truly aligns with how we operate and grow," said Dilip Rao, Sharebite's founder and chief executive officer.
Why now? Sharebite is scaling its platform across a widening range of industries and needed a financing partner willing to tailor terms to its technology-driven billing cycles. The revolving facility replaces an older credit line, suggesting the company has outgrown its previous arrangement.
What could go wrong? Meal benefits remain a discretionary corporate perk. An economic downturn could lead enterprise clients to cut such spending, squeezing Sharebite's revenue just as it takes on more debt. The platform also operates in an increasingly competitive employee benefits space, where larger players could erode its niche.
The signal: Sharebite sits at the "breakout" growth stage according to Dealroom, a profile that increasingly favours debt over fresh equity. By securing a revolving facility structured around enterprise receivables rather than raising another venture round, the company follows a pattern seen across maturing B2B platforms: using predictable recurring revenue to unlock non-dilutive capital. The choice of a specialty lender backed by Hercules CapitalDealroom has a profile for this one. Try Dealroom → — one of the largest publicly traded venture-lending firms — highlights how alternative credit providers are filling the gap for tech-enabled businesses whose assets don't fit traditional bank underwriting models.
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