OfficeRiders
Reshaping Workspaces with Silvr Financing
Founded
2015
Industry
Professional Services
Size
30+ employees
Location
Paris, France
Silvr Use Case
Working Capital
Founded in 2015, OfficeRiders is revolutionizing the workspace rental industry by transforming underutilized spaces into practical, original spots for businesses. With a presence in 19 major French cities, OfficeRiders offers a unique solution in the evolving landscape of work environments.
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The Challenges
Resource Constraints
OfficeRiders launched with limited financial resources, necessitating creative solutions to establish their innovative business model and develop a robust platform capable of effectively connecting hosts and riders.
Business Model Evolution
The company needed to transition from a traditional coworking model to a shared office space reservation system. This shift was crucial for ensuring economic sustainability but required careful management to maintain service quality while fundamentally changing its core offering.
Cash Flow Management
OfficeRiders encountered significant cash flow challenges due to the timing mismatch between quick Host payments and delayed Rider revenues. These cash flow gaps substantially impacted the company's ability to fuel growth and maintain smooth operations.
"OfficeRiders is committed to paying Hosts within 72 hours. So we see a substantial cash flow gap, and the cash flow requirement is significant."
Florian Delifer, OfficeRiders Founder & CEO
The Solution
Quick Financing
OfficeRiders partnered with Silvr, receiving financing within 24 hours of application. This provided immediate access to capital for urgent needs and growth opportunities.
Flexible Use Cases
Silvr's financing solution allowed OfficeRiders to cover immediate cash flow gaps and invest in growth strategies.
Support for Expansion
The funding enabled OfficeRiders to diversify advertising investments and support their internationalization approach. This ongoing partnership fueled long-term growth strategies.
“With Silvr’s business loans, we could plug the cash flow gaps. Now, we are developing acquisition and expansion strategies in Europe.”
Florian Delifer, OfficeRiders Founder & CEO
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The Results
Rapid Growth
OfficeRiders experienced remarkable growth, with revenue doubling between 2019 and 2022. This growth was mirrored in their operational capacity, as the platform doubled its available spaces and tripled the number of Riders using the service.
Expanded User Base
The company significantly broadened its reach, now serving over 30,000 users. This expanded user base includes half of the prestigious CAC 40 companies, demonstrating OfficeRiders' appeal to major corporations. Furthermore, the company has established a strong presence in 19 major French cities, solidifying its position in the domestic market.
Increased Inventory
OfficeRiders dramatically expanded its offerings, now boasting over 3,000 spaces on its platform. This expansion activates more than 1,000,000 m² of previously unoccupied space, contributing to urban resource optimization. The company also diversified its offerings through strategic partnerships with over 60 partners, providing additional amenities and enhancing the overall user experience.
“Silvr offers us a financing solution that compensates for our considerable cash flow bottlenecks.”
Florian Delifer, OfficeRiders Founder & CEO
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