Former executives at Mindspace and WeWork have teamed up to establish a new flexible workspace concept in Europe and Israel, raising $1.22 million (€1 million) to offer white-label solutions for landlords looking to transform their office buildings into workspaces.
The Amsterdam-based startup, infinitSpace, was set up this year by Elad Hod, former director of real estate at Mindspace, who serves CGO (chief growth officer), CEO Wybo Wijnbergen, North and West Europe’s former managing director of WeWork, and his brother and serial tech entrepreneur Wilco Wijnbergen, who serves as CTO.
The company says it provides fully operational services to landlords and sets up common and other underutilized areas in office buildings with dedicated software that handles facility and office management processes, ensures building security and IT security. The software also manages accounting processes, capacity and community management, features an app for office users and ensures safety measures during the pandemic.
Hod says the business was established to provide landlords with an all-round ‘flex workspace toolbox’, assisting them in creating, operating and managing a successful flex workspace brand.
The investment from JLR Star, a private investment company based in London, will be used to scale the business in its core markets in Germany, Israel, the Netherlands, and the United Kingdom, infinitSpace indicated.
“Unicorns and large corporates jumped on this trend three years ago,” says Hod. “This concept enables them to extend or reduce office space on demand alongside 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 optimized experience for traditional tenants. Those not adjusting to the market’s new era will take an unbearable risk of becoming non-competitive.”
“Our flexible business concept allows us to service prime as well as de-centralized locations,” says Wybo Wijnbergen. 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.”