Flipspaces secured $1.15M in debt from UCIC and Alex Group of Companies
Nov 22, 2019
Flipspaces, which is a Mumbai based technology-enabled commercial interior design and build a startup, has now secured $1.15 million in the venture debt funding round led by the Unitus Capital Inclusive Credit and Alex Group of Companies. Flipspaces revealed that it will now be going to use the funds for the growth of the domestic business units, expansion of its foothold across the globe, and enhancement of the Virtual Reality technology for the better customer experience. Kunal Sharma, CEO, and Founder, Flipspaces, said,
“We at Flipspaces aim to establish ourselves as a de facto brand for the real estate expansion management of commercial spaces across different SMEs. We plan to expand to three more business units in India, and upscaling our business operations to two cities in the US, delivering a differentiated customer experience through cutting-edge web and VR technology”. “Taking into consideration the customer outreach and loyalty analysis, we are proud of the fact that Flipspaces has 40 percent of repeat customers and 20 percent of the referral customers, which adds the trust element. As an investor, we are impressed by the unique competitiveness of Flipspaces,” said Pranay Sureka, Managing Director, Alex Group of Companies.