Puzl CoWorKing operates an IT-only coworking campus in Sofia spanning roughly 7,000 m2, hosting over 80 companies and having invested €2M in renovations and amenities such as a rooftop cafe-bar. The company positions itself as the heart of the local IT ecosystem and offers membership access across locations in the region. Management plans phased international expansion across CEE (including Budapest, Bucharest, Prague, Vienna, Athens, Skopje and Belgrade) using local co-founders and a shared-membership model. Puzl intends to purchase two buildings totaling about 12,000 m2 in its first target market and to open an initial 2,000 m2 next summer. The business reports over €1m in revenue and is profitable (profitable within three months of opening). To fund expansion it expects to raise between €15–20m via a mix of equity in its UK parent and loans, with some soft investor commitments already in place. Fundraising will be done in phases, with a €10m need for projects next year and a focus on European investors rather than the US.

Total raised

$17M

Funding rounds

1

Latest round

Equity

Latest activity

Nov 2019