Flexible office space provider, Canvas, has secured £2.5 million in debt finance from leading alternative finance provider, ThinCats, to accelerate growth and expand its property portfolio in strategic locations across London.
Established in 2018 by founding partners, Yaron and Oren Rosenblum, Canvas focuses on sourcing and reviving buildings to create environments where people love to work. Headquartered in Shoreditch, they source and repurpose vacant or underperforming, self-contained buildings spanning 5,000 – 25,000 SQFT.
To date, Canvas has sourced, refurbished, and launched 11 office buildings across London in prime locations, including Mayfair, Shoreditch, Farringdon, and Old Street.
The funding will be used to finance the company’s plans to launch 11 additional buildings and triple the business in size within the next 18 months.
Underpinned by a team of 20 industry experts, Canvas buildings are home to 70+ businesses, including influential brands like Rough Trade, Patchwork, Malin+Goetz, and Augustinus Bader.
Dave Sherrington, Regional Head of Sales for the South East, ThinCats: “I was impressed by Canvas’ proven ability to stabilise the business and drive scalable growth during the economically challenging COVID-19 period. While this is the first round of investment ThinCats has delivered to Canvas, we’re keen to support Yaron and Oren as they are already focused on securing equity investment to drive international growth within the next two years.”
Yaron Rosenblum, co-founder and CEO of Canvas, said : “Over the last four years, Oren and I have worked incredibly hard to cement the concept of flexible office space and to create a unique business model that truly understands what people perceive as valuable at work.
“By doing so, we have played an instrumental part in the evolution of the way in which businesses work, and are proud to have established Canvas as a leading office space provider, committed to helping our clients collaborate and grow, through spaces tailored to individual business needs.
“With a vision to accelerate growth in strategic locations across London and overseas in the coming years, we are delighted to have secured our first round of investment and now look forward to executing our plans to triple our portfolio during 2023 and beyond.”