Flex office proptech launches successful IPO

Essensys provides self-service, automation and cloud technologies for flexible workspace operators. The company claims a track record of profitable growth with a clientele of blue-chip companies, since its founding in 2006.

The proptech business listed on the Alternative Investments Market (AIM), which is aimed at smaller firms looking to expand. The float was Essensys’s first foray into raising equity externally.

With half of proceeds going to shareholders and the remainder being used to pay down debt, the IPO would render the company debt-free, a spokesperson said. It would also fund product development and finance plans for international growth - with demand soaring for flexible workspaces across markets.

Essensys has offices in London – where it is headquartered - New York and Los Angeles, with an offshore development centre in Asia.

Welcoming the IPO, Mark Furness, founder and CEO of Essensys, said: ‘This is a landmark day for Essensys, marking the start of the latest and most exciting phase of our journey to date.

‘The positive reception we have received from investors has been hugely encouraging and serves as an endorsement of the strength of the business we have built as well as the significant long-term opportunities that lie ahead of us as a UK-listed company with global ambition.

‘I want to thank everyone who has helped Essensys achieve this successful flotation, especially our committed, passionate employees who are the true heartbeat of our business, and our loyal customer base who have allowed us to play an exciting role in the evolution of the flexible workspace industry.’