# InfinitSpace Financial Model 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. - Canonical: https://finamodel.com/startups/infinitspace - Excel download: https://finamodel.com/startup-models/infinitspace.xlsx - Category: Marketplace - Model type: SaaS ARR / Valuation - Funding round: Seed - Funding: $1.2M - Founded: 2021 - Geography: Europe (HQ implied Netherlands; European office market cited as addressable market). - Customer: B2B ## About the company 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. ## What's included - 5-year monthly revenue build with stage-appropriate growth assumptions - Full P&L, headcount plan, and operating-expense schedule - Cash-flow statement, runway, and burn-rate tracking - Valuation via exit multiple with a DCF cross-check - Returns analysis with MOIC and IRR - Unit economics including CAC, LTV, payback, and cohort retention ## 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: 1. **Setup fee**: Up to EUR 61,000 per building (one-time, paid by landlord for brand conceptualisation and fit-out development by infinitSpace). 2. **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**: 1. **Assumptions** - all drivers with toggles for Base/Bull/Bear. 2. **Building Roll-up** - one row per building cohort (signed quarter, sqm, ramp occupancy curve, monthly gross revenue, commission to infinitSpace, setup fee timing). 3. **P&L** - revenue (commission + setup fees), headcount costs, overhead, EBITDA, net income. 4. **Headcount plan** - community managers (per-building) + central team scaling. 5. **Cash flow** - burn rate, Series-A timing, runway. 6. **Market size** - static reference for sqm projections vs. European flex market targets. 7. **Dashboard** - ARR by year, sqm under management, buildings live, EBITDA margin, cash runway, occupancy heatmap. ## Frequently asked questions ### Is the InfinitSpace financial model free? Yes. The InfinitSpace model is a free Excel download with live formulas. ### Can I change the assumptions? Yes. The workbook is editable and its live formulas recalculate when assumptions change.