Coworking business is really in-trend these days. A lot of young entrepreneurs are exploring this market. Good profit margin and endless possibilities are the major reasons behind this sector. Also, the growth prospects are enormous. Check out this news about the office pass, one such coworking space which has received investment and planning to grow endlessly.
TOP Technologies Pvt. Ltd. is based in Gurugram and had started its coworking business in March 2017. TOP, co-founded by Sachin Gaur, Aditya Verma and Nikhil Madan, has received investment from Dhruv Agarwala, Makaan and Housing and CEO of PropTiger.
The company’s plans are clear when it comes to spending the money raised. It is all set to expand its operations within the next year or two. It will also hire technology and product talent in order to grow rapidly. TOP closed their seed investment round in the initial months of 2017 and received this valuable investment just after a few months of closure.
Coworking business has a huge margin and inculcating technology into the business can lead to increased margin. Realising this fact, The Office Pass launched a platform through which one can easily book their workspace and make transactions conveniently. The use of employees is reduced because of this and as a result, their working capital requirement also reduced.
Dhruv Agarwala talked about investment, “The Office Pass has shown good traction within a few months of its launch and that opens up exciting possibilities for rapid expansion. The company has a strong founding team led by Aditya, and has a good understanding of the role technology can play in scaling up the business in a capital efficient way”.
The Office Pass’ first coworking centre was in Gurugram, which was launched in March of the current year, and is completely occupied with coworkers. Founder of TOP, Aditya Verma said “Our 1st center has helped validate many hypotheses that we had, before starting the business. We now feel confident to expand our network in a capital light model, using technology with the objective to expand profitably. Most office-goers waste precious time, effort and money in commuting to work. If they are able to work from a high quality, yet affordable, office near-by, it will solve a big productivity problem for Indian companies.”
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