Flexible office space provider Canvas has secured £2.5m in debt financing from leading alternative finance provider ThinCats to accelerate growth and expand its portfolio of properties in strategic London locations.
Established in 2018 by founding partners Yaron and Oren Rosenblum, Canvas focuses on reviving buildings to create environments where people love to work. Based in Shoreditch, they source and repurpose vacant or underperforming stand-alone buildings ranging from 5,000 to 25,000 square feet.
To date, Canvas has acquired, renovated and commissioned 11 London office buildings in prime locations, including Mayfair, Shoreditch, Farringdon and Old Street.
The funds will be used to finance the company’s plans to open 11 additional buildings and triple the size of the business in the next 18 months.
Backed by a team of 20 industry experts, the Canvas buildings are home to more than 70 companies, including influential brands such as Rough Trade, Patchwork, Malin+Goetz and Augustinus Bader.
Dave Sherrington, ThinCats Southeast Regional Sales Director: “I was impressed with Canvas’ proven ability to stabilize the business and drive scalable growth during the economically challenging period of COVID-19. While this is the first round of investment that ThinCats has delivered to Canvas, we are eager to support Yaron and Oren as they are already focused on securing capital investment to fuel international growth over the next two years.”
Yaron Rosenblum, Co-Founder and CEO of Canvas, said: “Over the past four years, Oren and I have worked incredibly hard to solidify the concept of flexible office space and create a unique business model that truly understands what people perceive as valuable. at work.
“In doing so, we have played a critical role in evolving the way businesses work and we are proud to have established Canvas as a leading provider of office space, committed to helping our clients collaborate and grow, through of spaces adapted to individual needs. Business needs.
“With a vision to accelerate growth in strategic locations in London and abroad in the coming years, we are delighted to have secured our first round of investment and now look forward to executing on our plans to triple our portfolio through 2023 and beyond.”