‘Airbnb for workspaces’ gets $2m for regional expansion
Manila-based FlySpaces has secured US$2.1 million in a pre-series A funding round, the startup announced today. The round was led by angel investor Raymond Rufino – co-president of commercial property manager Net Group – with “a millennial-led private equity firm” and other local property developers also participating. FlySpaces claims that this is the largest ever pre-series A investment made by Philippines-based parties.
The company will use the money to fund further expansion activity in the region, with a particular focus on Indonesia, and to further develop its technology.
FlySpaces acts as a marketplace for co-working venues, billing itself as an “Airbnb for office and retail spaces.” Playing the role of middleman, it takes a cut of booking fees it secures for shared workspace owners. While it is not the only company to offer such a service – with Liquidspace, Breather and retail-focused Storefront three such counterparts hailing from North America – FlySpaces suggests it is the first to do so in Southeast Asia.