Flexible workspace provider completes $400m financing

Knotel, a flexible workspace provider, has completed a $400 million financing, led by Wafra, an investment arm of the Sovereign Wealth Fund of Kuwait.

Knotel will use the financing to grow its footprint in existing markets, continue expansion into the world’s 30 largest cities and deepen its engagement with global enterprise accounts.

Knotel will also use the new financing to accelerate recent innovations — Baya and Geometry — aimed at streamlining its core service delivery model. Baya, a blockchain platform used internally to facilitate data-driven acquisition decisions, will help the company further reduce transaction costs. Geometry, a subscription service for adaptable workplace products, will allow the company to more efficiently and intelligently fit-out workspaces for flex-minded clients.

Since the company’s inception in 2016, Knotel has grown to more than 4 million square feet across more than 200 locations in New York, San Francisco, London, Los