Smartworks, an India-based shared office operator, hopes to raise between $35 and 40 million in both debt and equity by March of 2020.
The firm is aiming for a two-fold increase in its revenue, as well as doubling its portfolio according to managing director Neetish Sarda.
“Access to funds from banks and institutions like NBFCs is easy,” said Sarda. “A lot of private equity investors are also approaching us and we are evaluating them, but we cannot disclose more that at this moment.”
Smartworks has served large clients such as Microsoft, Amazon, Otis, Bacardi and focuses on international clients.
The firm currently has locations across nine cities in India, such as Hyderabad, Delhi-NCR, Mumbai, Bengaluru, Pune, Chennai and Kolkata.