A flexible office space provider got £2.5 million in debt financing from ThinCats, an alternative lender based in Leicestershire.Canvas was started by Yaron and Oren Rosenblum in 2018. It finds and fixes up empty or underperforming self-contained buildings from 5,000 to 25,000 square feet.The money will help pay for the company’s plans to open 11 more buildings and triple the size of the business in the next 18 months.
Rosenblum 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.”
Dave Sherrington, regional head of sales for the South East at ThinCats, added: “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.”