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WeWork India has received $66.5 million from a private credit platform that will go towards expanding its presence across the country.
According to WeWork India CEO Karan Virwani, the fresh funding from BPEA Credit will be used towards growth and acquisitions as demand for flexible offices continues to grow.
This year marked WeWork India’s best for profitability and revenue, with the company seeing a 250% increase in EBITDA. The company’s occupancy also reached 80% as of April of this year, indicating strong demand for an alternative workplace solution.
WeWork India plans to add an additional 1 million square feet across the country by March of 2024.
Source:
Mingtiandi
