InfinitSpace Financial Model
Marketplace Startup Financials (Free Excel Download)
White-label flexspace-as-a-service platform for office landlords and corporates - manages and operates flexible workspace on the asset owner's behalf in exchange for a 20% revenue commission.
professionals from Deloitte
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About this model
infinitSpace creates and operates white-label flexible workspace offerings for landlords and corporate occupiers. It provides utilization technology, a booking and community app, curated services, and on-site operations while the asset owner retains its brand, capex control, and tenant contracts.
The company charges a one-time setup fee of up to €61,000 per building and receives 20% of flexspace revenue once locations are operational. At the deck date it was pre-revenue but had grown its pipeline beyond 100,000 square meters, demonstrating the commercial focus on signed space rather than leased inventory.
The model is a building roll-up. Buildings signed, average square meters, launch timing, occupancy, membership revenue per square meter, and booking upsells determine gross flex revenue, of which infinitSpace receives 20%. Setup fees, implementation cost, community staffing, and pipeline conversion show the route to recurring commission ARR.
A turnkey financial model
Live formulas, no hardcoded values
Outputs are driven by live formulas, so the workbook updates from its assumptions instead of relying on hardcoded results.
All assumptions in one tab
Inputs are clearly marked in the Assumptions tab and separated from calculations, making it clear what to change and what to leave intact.
Statements always balancing
For integrated-statement models, the balance sheet, cash flow, and supporting schedules tie through properly.
Distinct schedules for clarity
Debt, working capital, taxes, and cash flow can get messy quickly. We group calculations in clear schedules, not across disconnected tabs.
No hidden macros or external links
There are no unexplained external workbook links or macros to undermine auditability or portability.
Changes flow through the model
Update a key driver and see the impact carry through the forecast, financing, and return outputs. We never use hardcoded numbers in formulas.
About InfinitSpace
infinit.space
How to build a detailed financial model for InfinitSpace
A complete walkthrough of the business, drivers, and assumptions behind the downloadable InfinitSpace model - distilled from its pitch deck and publicly available information.
Product & value proposition
- White-label flexible workspace brand built and operated by infinitSpace on behalf of the landlord or corporate.
- Four-pillar service offering: Tech (space utilisation sensors/data), Software (premium white-label flexspace-as-a-service booking/community app), Services (curated F&B, events, partnerships), Community (on-site community managers).
- Landlord retains brand control, CAPEX control, and contract relationships with tenants - infinitSpace is invisible operator.
- All tenants in the building (coworking and traditional) are connected via the software platform, enabling upsell of hourly/daily desk and meeting-room bookings to traditional lease tenants.
- White-label brands join infinitSpace's global booking network.
- Three deployment models supported: Reverse Flex, HQ & Flex, Hub & Spoke.
Market
- European total office market: 372 million sqm (stable, 2020–2030).
- European flexible office market 2020: ~15M sqm (~4% of total).
- European flexible office market 2025: ~41M sqm (~9% of total).
- European flexible office market 2030: ~111M sqm (~30% of total, per JLL cited on slide 5).
- infinitSpace SOM 2025: 0.6M sqm (1.4% of flex market).
- infinitSpace SOM 2030: 16M sqm (14% of flex market).
- No EUR TAM/SAM value stated; only sqm figures provided.
Revenue model
Two revenue streams:
- Setup fee: Up to EUR 61,000 per building (one-time, paid by landlord for brand conceptualisation and fit-out development by infinitSpace).
- Commission: 20% of all flexspace revenue generated at the building, ongoing.
Underlying economics:
- Members (tenants) pay a monthly membership fee of ~2.2x the market rental price per sqm - standard flexspace pricing; profitable at >70% occupancy.
- infinitSpace takes 20% of that gross member revenue; landlord retains 80%.
- Additional upsell revenue from hourly/daily bookings by traditional tenants (commission also applies).
- Software license revenue to corporates and flex operators mentioned as future/additional stream - no pricing given.
Projected ARR (commission revenue, 20% take): | Year | sqm under management | ARR (EUR) | | ----- | --------------------- | ---------- | | 2021 | 36K | 1.5M | | 2022 | 72K | 7.7M | | 2023 | 144K | 19.5M | | 2024 | 288K | 41.9M | | 2025 | 576K | 86.3M |
Traction & metrics
- Founded: 1 October 2020.
- Pipeline (own network): >70K sqm at founding.
- Press release (November 2020): +7K sqm pipeline.
- January 2021: Total pipeline >100K sqm.
- February 2021 (deck date): 1 LOI signed (3K sqm); 3 NDAs (60K sqm); seed round underway; founding team complete.
- No live revenue at deck date - pre-revenue.
- MVP development started December 2020; no product shipped yet at deck date.
Unit economics
- Member pricing: ~2.2x market rental rate per sqm per month.
- Break-even occupancy for landlord profitability: >70%.
- infinitSpace take rate: 20% of gross member revenue.
Competition / moat
Three-way comparison presented:
| Operators (e.g. WeWork, Mindspace) | Landlord self-operated | infinitSpace | |
|---|---|---|---|
| Brand | Operator's brand | Landlord's brand | Landlord's brand |
| Revenue | Operator keeps it | 100% to landlord | 80% to landlord |
| Tenant contract | With operator | With landlord | With landlord |
| Asset impact | Negative (sub-lease) | Neutral | Neutral |
| CAPEX control | Operator controls | Landlord controls | Landlord controls |
| Expertise | Yes | No | Yes |
| Marketing/sales | No | No | Yes (dedicated team) |
| Suitability | Prime only | All locations | All locations |
Moat claims:
- Holistic "whole asset" approach vs. operator carve-out model.
- White-label flexibility vs. operator brand lock-in.
- Global booking network across white-label brands.
- Founders' ex-WeWork and ex-Mindspace networks and operational playbooks.
Team & funding ask / use of funds
Team:
- Wybo Wijnbergen (CEO/Co-founder): VP & MD WeWork West & Northern Europe (2015–2020, 1→50 locations, 5M sqft, 275 FTE); MD Merlin Entertainments (30→115 attractions). 2 scaleups, 1 IPO.
- Wilco Wijnbergen (CTO/Co-founder): Co-founder of #1 illness management SaaS in Netherlands (ING, AS Watson, National Police, 100 employees); 4 startups, 2 scaleups; Founder Institute 2020 graduate.
- Elad Hod (CGO/Co-founder): Former Director of Real Estate at Mindspace (15 of 31 locations); managed one of largest Management Agreements in European flex workspace; co-managed acquisition of Dutch flex provider.
Funding ask:
- Seed round: In process at deck date (February 2021) - amount not stated.
- Series-A target: EUR 1.5M, targeted August 2021.
- Use of funds: Not detailed in deck.
Recommended financial model
Archetype + why: Management-fee / commission-revenue model (analogous to a franchise or property management fee model). infinitSpace earns a one-time setup fee per building plus a 20% ongoing commission on gross flex revenue - not a SaaS ARR business and not a lease-based P&L. The correct archetype is a building roll-up commission P&L: sqm under management drives gross member revenue, of which 20% flows to infinitSpace. Secondary stream is setup fees per new building signed.
Forecast horizon & granularity: Monthly for Years 1–2 (2021–2022); quarterly for Years 3–5 (2023–2025). Five-year horizon matches deck projections.
Key drivers & assumptions:
*Volume / growth*
- Buildings signed per period
- Average building size (sqm)
- Ramp time from signed LOI to operational (months)
- Occupancy ramp post-opening
- Steady-state occupancy assumption
- Member churn / turnover rate
*Pricing*
- Gross member revenue per sqm per month
- Setup fee per building
*Revenue*
- Commission revenue = occupied sqm × gross member rate × 20%
- Setup fee revenue = new buildings signed × avg setup fee
- Software license revenue
*Costs*
- Community manager headcount per building
- Central overhead (sales, tech, marketing)
- Tech/software development capex
- Partner/vendor costs (cleaning, F&B, ICT)
Scenarios (Base / Bull / Bear - which variables flex):
- Base: sqm trajectory per deck (36K→576K), 80% occupancy, EUR 50K setup fee, EUR 88/sqm gross member rate.
- Bull: Faster ramp (144K sqm by 2022), higher occupancy (90%), EUR 60K setup fee, EUR 95/sqm rate in stronger markets.
- Bear: Half the deck sqm (36K→72K→144K by 2025), 70% occupancy, EUR 40K setup fee - tests whether the model is viable with slower landlord adoption.
- Key flex variables: sqm under management, occupancy rate, gross member rate per sqm, and ramp speed.
Required sheets / outputs:
- Assumptions - all drivers with toggles for Base/Bull/Bear.
- Building Roll-up - one row per building cohort (signed quarter, sqm, ramp occupancy curve, monthly gross revenue, commission to infinitSpace, setup fee timing).
- P&L - revenue (commission + setup fees), headcount costs, overhead, EBITDA, net income.
- Headcount plan - community managers (per-building) + central team scaling.
- Cash flow - burn rate, Series-A timing, runway.
- Market size - static reference for sqm projections vs. European flex market targets.
- Dashboard - ARR by year, sqm under management, buildings live, EBITDA margin, cash runway, occupancy heatmap.
Frequently asked
Is the InfinitSpace financial model free?+
Yes. The InfinitSpace model is a free Excel (.xlsx) download with live formulas. Sign up with your email and the workbook is yours to keep, review, and edit.
What's included in the model?+
A 5-year monthly forecast with P&L, cash flow and runway, valuation (exit multiple plus a DCF cross-check), MOIC/IRR returns, and unit economics, with live formulas throughout.
How was this model built?+
It was built from InfinitSpace's pitch deck and publicly available information, then structured to investment-banking standards as a fully editable Excel model.
Can I change the assumptions?+
Yes. You can change assumptions and the live formulas will recalculate in the downloadable Excel model.
Have more financial modelling questions? Contact us
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