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Spacious provides a network of on-demand co-working spaces by transforming underutilized urban properties, primarily vacant restaurants during off-peak hours. These temporary locations are equipped with high-speed internet and refreshments, offering members consistent, productive environments. The model efficiently repurposes existing real estate assets to create accessible hubs for flexible workers.
Founded in 2016 by Preston Pesek and Chris Smothers, Spacious emerged from the insight that urban real estate remained unused during daytime hours. Pesek, as CEO, and Smothers, as CTO, recognized the opportunity to convert dormant spaces into functional offices, addressing the growing demand for flexible work alternatives.
The service primarily serves independent professionals and remote employees seeking convenient, professional workspace solutions. Spacious optimizes urban infrastructure by delivering a seamless, city-wide network of productive spaces. The company envisions flexible work integrated into the urban landscape, providing accessible workspaces as needed.
Spacious has raised $9.0M across 1 funding round.
Spacious has raised $9.0M in total across 1 funding round.
Spacious is a real estate technology company that operates an online platform primarily serving the Hong Kong and Greater Bay Area markets. It connects buyers, tenants, landlords, and real estate agents by providing accurate, high-quality residential and commercial property listings, along with analytical tools and real-time market insights. The platform aims to simplify and streamline the property search and transaction process, addressing the inefficiencies and outdated information common in traditional real estate markets. Spacious’s service helps users make informed decisions by combining proprietary supply-demand data with public information, generating significant transaction volume and inquiries annually[2][4].
Spacious was founded in 2013 by Asif Ghafoor, a former Goldman Sachs and Standard Chartered Bank IT and development professional. After moving to Hong Kong in 2007 and experiencing frustration with poorly designed and unreliable real estate websites, Ghafoor launched Spacious.hk to create a superior, user-friendly property platform. The company quickly gained traction by offering a better user experience and powerful analytical tools, becoming a leading real estate marketplace in Hong Kong. It also participated in the Hong Kong Science and Technology Parks Corporation incubator program and raised seed funding in 2014 and 2015 to support growth[2][4].
Spacious rides the trend of digital transformation in real estate, leveraging technology to address inefficiencies in property search and transactions. The timing is critical as Hong Kong and the Greater Bay Area face high demand for transparent, reliable real estate data amid a traditionally opaque market. Market forces such as urbanization, rising property prices, and increasing digital adoption favor platforms like Spacious that provide real-time, independent data and analytics. By improving market transparency and efficiency, Spacious influences the broader ecosystem by empowering consumers and professionals with better tools and insights[2][4].
Looking ahead, Spacious is positioned to deepen its impact in the Greater Bay Area real estate market by expanding its data capabilities and partnerships. Trends such as increased demand for data-driven decision-making, sustainability in real estate, and digital-first property transactions will shape its journey. As the platform continues to innovate, it may evolve into a critical infrastructure for real estate intelligence in Asia, potentially expanding beyond Hong Kong. Its commitment to environmental sustainability and data transparency will likely enhance its reputation and influence in the industry[4].
Spacious has raised $9.0M across 1 funding round. Most recently, it raised $9.0M Series A in May 2018.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| May 1, 2018 | $9M Series A | — | Canvas Ventures, ONSET Ventures, Thayer Ventures, Uncork Capital, GEN Isayama | Announced |
Spacious has raised $9.0M in total across 1 funding round.
Spacious's investors include Canvas Ventures, ONSET Ventures, Thayer Ventures, Uncork Capital, Gen Isayama.
