Knotel to expand into Brazil office market

Workspace giant Knotel has announced that it will launch its first office in Brazil as they look to expand outside of the U.S. and Europe.

Knotel said it will operate 100,000 square feet across São Paulo, then move into Rio de Janeiro, adding another 100,000 square feet to its portfolio.

Office space demand is rapidly growing in Brazil, who recently became the largest recipient of venture capital funding in Latin America last year, according to Knotel co-founder Amol Sarva.

Sarva’s company opened three years ago in an attempt to compete with WeWork, who also recently expanded into Brazil’s coworking market with 16 new locations. Knotel currently manages 1.7 million square feet across the U.S. and Europe and has raised $160 million in funding.