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🇧🇪 Loss-making Belgian operator gets €18M further backing
Real estate group Ghelamco is investing €19M in additional capital into their coworking arm, Expand 👇 MeetDistrict. The coworking brand has 4 locations, made a €6M loss in 2022, and has 2000 daily users. The firm who focus on the concept of "Personality Based Working" and letting users book everything within their app (from desks, to parking, to coffee), note their losses were required to invest heavily in digitalization. Interestingly, Silversquare (the coworking arm of real estate company Befimmo) operates 10 locations, doubled revenue to €15M in 2022, but still recorded a net loss of €7.3M.
🗞 Week 03, 2024
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🤝 Market Moves
⏱ 890 days ago.

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