Sported.ae was established in 2018 and is a specialized sports distribution business focusing on the growth of triathlon, running, cycling, and swimming across the UAE and the wider GCC region. It has a multi-channel distribution model with an online store, and a physical shop centrally located in Dubai.
Their vision is to become the destination for athletes to find not only best-in-class products but also a source of valuable information such as a calendar of events and to help with where to find a coach.
During the pandemic, the team recognized the necessity of securing funds to open a small showroom, expand the team and acquire fresh and leading international triathlon brands for their customers to try.
What Beehive did
Beehive offered Term Finance to Sported.ae to enable the team to establish their showroom, scale up their workforce, and make investments in acquiring new and fresh brands, thus facilitating operations within the UAE. Term Finance serves as a direct link connecting businesses with investors, supporting their growth and expansion.
The speed and seamless process from start to finish was the key factor for Sported.ae to secure its funding.
Sported.ae successfully launched its Dubai showroom, now boasts a dynamic team at the helm of its operations, and has become the premier online hub for athletes, providing best-in-class products and services throughout the UAE.
“Bank finance is very hard to obtain for small start-up businesses such as Sported.ae which have little or no tangible assets or a long track record. Beehive funding allowed us to expand our team through obtaining new visas and to invest in stocking some new and exciting brands.”
David Hunt, Co-owner, Sported.ae