Paris-based Volum (previously Kowffice), a platform specializing in office rental and management services, announces raising €1.5 million from Newfund and business angels to accelerate its growth. On this occasion, Kowffice changes its name to Volum, a change that reflects its desire to establish its reputation among all players in the commercial real estate market and to export its concept internationally, particularly in London and New York.
Created in 2016 by Matthieu Nicolini, Gabriel Roucel and Erwan Vasseure, Volum offers an innovative office real estate solution for both tenants and owners. Its digital platform manages all aspects of property rental for companies, from the search for offices to the signing of the rental contract, including any work, fittings, equipment and associated services (IT, maintenance, surveillance, reception, etc.). By registering on Volum’s platform, companies also benefit from a more flexible rental contract.
Since its creation, Volum has helped a multitude of users find offices, including Renault, Malt, Shine, Marcel Cab, Maje, Heetch and Novaquark. In 2019, Volum recorded over 20,000 workstations searches, representing 200,000 m² of office space. Most of the searches concern offices between 200 and 3,000 sq.m of office space, mainly in Paris/Ile- de-France, Europe’s leading office property market.
On the landlord side, Volum helps to rent out existing properties, or by assisting in the transformation from empty office space to serviced office space, followed by long-term management. Thanks to its large base of tenants, Volum is able to find tenants quickly and greatly reduce the risk of vacancies. Out of the 35,000 m² of assets under management (through 17 properties), the retention rate since the creation of Volum has been 100% for both parties.
Gabriel Roucel, co-founder of Volum, commented: “The market for serviced office space is an answer to a fundamental dynamic on the part of users, who increasingly need services and flexibility in the face of a 3/6/9 lease that seems ill-suited to the expectations of many companies. In this context, Volum provides an innovative solution that meets the needs of both parties. This fundraising will enable us to accelerate the marketing of our offer and our international development, notably by recruiting new profiles”.
Anne-Sophie Nedellec, Investment Director at Newfund, explained: “Volum is an innovative company and we share with its founders a common vision of the opportunities offered by their solution for both businesses and owners. Volum is a new player in the commercial real estate market which is evolving towards greater flexibility. Our aim is to accelerate Volum’s development and make it a key player in office rental services”.