Manila-based work space startup FlySpaces acquires HK rival Quikspaces

Visual from Flyspaces portal.

FlySpaces, a Manila-based Airbnb-like operator of office spaces, is acquiring its Hong Kong competitor Quikspaces for an undisclosed sum, according to its announcement on Friday.

This is FlySpaces’ second acquisition after it bought Malaysian work space platform 8Spaces in 2016.

Quikspaces, founded in 2016, has around 1,200 office listings on its platform. After the acquisition is completed, its founders and team will join FlySpaces and its Hong Kong operations.

“We are excited to join Southeast Asia’s largest platform for flexible office space and join its team while bringing to the table our local expertise and extensive network in Hong Kong,” said Eunice Wong, CEO of Quikspaces, in an official press release. “This was a natural fit since Quikspaces will benefit from the large-scale operations and technology that FlySpaces provides, helping accelerate our growth within Hong Kong.”

FlySpaces, set up in October 2015, had raised $500,000 from Future Now Ventures and Narra Ventures, Coent Venture Partner and Rubina Real Estate in January 2016 and closed $2.1 million series A round led by workplace developer The Net Group Corp in August 2017.

It currently has over 3,000 work space listings across the Philippines, Malaysia, Hong Kong, Macau, Indonesia and Myanmar.

Also read:

Philippines: Net Group leads $2.1m series A round in Flyspaces

FlySpaces acquires Malaysian co-working space platform 8spaces