Pay-as-you-go office space renter Neardesk closes £1m Seedrs round

Oversubscribed pitch contained £75,000 individual investment

A start-up that offers pay-as-you-go desk and meeting space in locations across the UK today closed an oversubscribed £1m investment round on equity crowdfunding platform Seedrs.

Founded by Tom Ball in 2011, NearDesk uses a member card-based system to allow its users to rent office and meeting space by the hour, paying for the time spent via a single monthly invoice.

It distinguishes itself from competitors such as YourWorkspaces, LiquidSpace and HandyForWork through its revenue-sharing model with venues, which it says will quickly allow it to increase its reach and allow its customers to deal with a single supplier, rather than a multitude of different venue owners.

346 investors participated in the Seedrs pitch, which saw the start-up smash its original target of £600,000 to raise just over £1m. The largest individual investment was £75,000.

The funding is expected to be used to increase NearDesk’s national reach, following a previous Seedrs round which raised £184,500 to launch the start-up.

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