Deskimo Closes US$3 Million Seed Financing Round in Hong Kong

Singapore-based coworking space booking app Deskimo closes US$3 million seed financing round in Hong Kong, expanding flexible working options for professionals in the city.

Singapore-based workspace manager Deskimo is expanding in Hong Kong, just closing a US$3 million seed financing round led by venture capital firm Y-Combinator.

In a post-pandemic work environment, many businesses and professionals are seeking flexible working solutions. As a result, coworking has been widely adopted, Deskimo working to connect professionals with flexible workspaces. Following this seeding round, the platform is targeting to add 10 more locations to their Hong Kong database by Q1 2022.

Having just launched in Singapore in February 2021, Deskimo brings together easily accessible and affordable workplaces to both employees and employers. Following the uncertainty brought on by the ongoing pandemic, and in combination with Hong Kong’s astronomical real estate prices, many are looking for flexible solutions that allow for work from home, remote work, or shorter term rental arrangements. Not only are these solutions more cost effective, but they also support the health and wellbeing of employees, coworking spaces providing such an atmosphere for them to thrive in.

“The pandemic has transformed the way people work and how businesses operate. The disruption and demand for flexible work arrangements are more noticeable in Hong Kong,” says Adrian Ng, Managing Director at Deskimo’s Hong Kong office. “We’re glad that we can cater to that demand in flexible work arrangements at a reasonable price to users.”

Since entering the Hong Kong market in July 2021, Deskimo already has over 40 locations spanning from Sai Kung to Kennedy Town. Newly added locations in 2022 Q1 broaden the apps reach, including coworking opportunities in Discovery Bay.

Led by Foodpanda co-founder Christian Mischler and former Rocket Internet exec Raphael Cohen, Deskimo is is quickly adapting to shifting workspace demands. Along with Singapore and Hong Kong, the startup has most recently expanded to Jakarta.

the Hive Carpenter in Singapore

Most Hong Kong office tenants in Hong Kong are looking to increase their use of flexible space, according to a 2020 survey by CBRE in which 58% of corporates signalled their intention to adopt a hybrid work model going forward. In 2020, Hong Kong was named the most expensive city to live in for the 11th year, with an average property value of US$1.25 million as of June last year, according to CBRE Group Inc.

Deskimo allows users to freely access any workspace in their network, including meeting rooms and private desks, to stay for as long as they like, and pay by the minute.

“It’s almost like having 40 more offices they can use anytime for team gatherings, client meetings and community events — all of this instantly accessible with just one app,” Ng added.

This is a win-win situation for Ng. “We are literally knocking on open doors. Deskimo unlocks significant cost savings for companies, and it adds flexibility and freedom to employees’ lives.”

the Hive Kennedy Town in Hong Kong

“Not everyone has a great home office setup that lets them stay focused on their work,” said Jonathan Soh, Deskimo Singapore Managing Director. “Being able to get out of the house for a few hours to get deep work done without wasting time commuting to the central business district is priceless.”