Patch is transforming empty buildings into community hotspots for locals. Check out the 11-slide pitch deck it used to secure $3 million.
The startup converts local buildings into community-based workspaces for a range of events.A startup that transforms empty buildings into community spaces — for everything from coworking to networking events — has bagged a $3 million round from JamJar Investments, Triple Point Ventures, and the founder of PureGym, among others.
High streets in the UK, which is where most of a town's retail and hospitality sector is concentrated, have seen increased shop closures. Patch aims to revive the remnants of these empty local buildings into multi-purpose community hotspots, giving locals an accessible venue to work and socialize. The startup takes these buildings and renovates them so the spaces can also double as a hub for community events such as markets, podcast recordings, and roundtables. The benefits of these spaces include cutting down on commuting – often expensive and time-consuming — and empowering the local economy.
The startup makes its money in two ways; its community members pay a membership fee starting at £24 a month, which gives them access to these community spaces. It also offers event bookings for everything from workshops to pop-up events, for which hosts pay an additional charge.
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