Investor takes minority stake in Cubo
Literacy Capital has taken a minority stake in Derby-headquartered flexible office provider Cubo – and it set to fund the further expansion of the firm.
Founded in 2020 by property investors Marc and Rebecca Brough, Cubo has become known as one of the fastest growing provider of flex office and co-working space in the Midlands and Yorkshire, with sites in Birmingham, Leeds, Nottingham, Sheffield and Derby.
Earlier this year, Cubo announced plans to almost double its footprint by the end of 2023. New workspaces in Nottingham, Birmingham, Manchester and Edinburgh are set to open in the coming months with sites in other towns and cities in the pipeline.
The transaction is Literacy’s 22nd platform investment since the inception of the fund in 2017 with Cubo joining a roster of portfolio companies, including Grayce, Oxygen Freejumping, Butternut Box and Antler Homes.