In the current scenario, real-estate landlords in Amsterdam wish to offer their properties as flexible workspaces. They can either create it by themselves or rent it out to one of the large flexible workspace providers. This is where infinitSpace looks to fill the gap. The startup creates and runs your flexible office space, under your brand and conditions.
infinitSpace raises funding
In a recent development, the tech startup that offers flexible workspace as a white-label solution for landlords has raised €1M in a fresh round of funding in less than six weeks.
The raised capital will help the company to scale the business in the core markets Germany, Israel, the Netherlands, and the UK. infinitSpace aims to provide high-quality offices within a 15-minute commute, reducing the CO2 footprint of commuting and strengthening local communities.
The founders of infinitSpace are North & West Europe’s former MD of WeWork, Wybo Wijnbergen (CEO), his brother and serial tech entrepreneur Wilco Wijnbergen (CTO), and former director of real estate at Mindspace, Elad Hod (CGO).
Founded in 2020, infinitSpace targets all landlords wishing to transform their office building into a flexible workspace. The company provides fully operational services to landlords and activates common and other underutilised areas in office buildings.
infinitSpace’s business model replaces long-term commercial real estate contracts with monthly management agreements and offers their customers flexibility and freedom in planning. As a white-label company, it equips the premises according to the owners’ and tenants’ needs, enabling them to rent offices under their own brand name.
The company’s in-house software supports attracting tenants, administration, setup, and management of the premises as well as guarantees a high level of IT and building security. The software also manages accounting processes, capacity, and community management, features an app for office users and ensures safety measures during the pandemic.
“Our software ensures a comprehensive and smooth user experience for owners, tenants, and users of the spaces alike,” comments co-founder and CTO Wilco Wijnbergen.
Flexible workspace made easy
According to infinitSpace, unicorns and many S&P 500 corporates around the world are shifting their office portfolio. Through memberships with flexible workspace providers, they changed from traditional leases to short-term commitments of less than five years. These corporates are currently accommodated by large flexible workspace providers rather than office landlords.
InfinitSpace co-founder & CGO, Elad Hod, comments, “Unicorns and large corporates jumped on this trend three years ago. This concept enables them to extend or reduce office space on demand alongside the advantages of short-term lease commitments. To address this demand, landlords have to add a flexible workspace component to every ‘Grade A’ building, alongside providing an optimised experience for traditional tenants. Those not adjusting to the market’s new era will take an unbearable risk of becoming non-competitive.”
Are flex spaces beneficial for landlords?
Flexible workspace is the evolution of co-working. It mainly offers flexible private offices with shared and open areas. It also provides a wide range of supporting services to the members on an ‘all-inclusive’ basis. Flexible workspaces make a company more adaptable to the challenges that it faces, such as costs for the workplace, occupancy, operational demands, and support for workers.
One of the driving appeals of flexible spaces is lease flexibility. Rather than signing up for a 5-year lease, organisations can join for much shorter durations. This helps organisations to plan the space needed as per their projects. For example, it can enable a company to place a project team near target markets for a short duration.
Independent operation requires know-how and experience in management, administration, furnishing, finding tenants, and maintaining the premises – all very time-consuming processes. As a consequence, landlords partner with flexible workspace providers, losing influence on decision-making.
Co-founder & CEO Wybo Wijnbergen, says, “Our flexible business concept allows us to service prime as well as de-centralised locations. As a white-label provider, we fully adapt to landlords’ requirements concerning design and operation while the space is operated under their brand name. It includes concept, design and furnishing, marketing and client acquisition, community and events management, administration and sales, and maintenance of the premises. Community managers at location and our dedicated software guarantee an elevated experience for landlords, tenants and users of the premises.”