Co-working firm EFC plans to raise Rs 100 crore in FY20

Franchise India Bureau April 24 2019 - 4 min read
Co-working firm EFC plans to raise Rs 100 crore in FY20
The Pune-based company is further eyeing to launch 10,000 seats in this financial year.

Co-working firm Entrepreneur Facilitation Centre (EFC) is planning to raise Rs 100 crore in the financial year 2020.

Umeash Sahhaaii, CEO of EFC, said, "The company is under-discussion with several investors and will be closing the round soon."

The Pune-based company is further eyeing to launch 10,000 seats in this financial year. Currently, it has a total of 15,000 seats in 14 centres.

Recently, EFC took up a total of 1,50,000 sq ft in Mumbai. It has also started 48,000 sq ft co-working space with 1100 seats in Rani Ganj, Hyderabad.

"The average rent here is Rs 5,500 per seat per month. The centre is 100 per cent occupied," Sahhaaii stated.

The co-working firm will set up 22,000 sq ft space in Salt Lake City, Kolkata in May 2019. It will be having a capacity of 550 seats and average rent will be about Rs 5,500 per seat per month. By March 2020, EFC is looking to open 1 lakh sq ft each in Hi-Tech, Hyderabad, and Whitefield, Bengaluru.

Sahhaaii added, "We have seen a good response in Kolkata. The centre is already 50 per cent booked. We will also be expanding our operations in Delhi-NCR and Kolkata."

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