Patch

What Patch does

Patch operates a network of neighbourhood coworking workspaces and serviced offices on UK high streets, founded by Freddie Fforde in 2021 following the pandemic-driven shift to remote and hybrid work. The company targets freelancers, solopreneurs, hybrid workers, and small-to-medium teams who want professional workspace close to home rather than in central business districts. Its core products span flexible coworking memberships (with tiered plans from Associate 4 days/month at £105 ex VAT up to Resident dedicated desks at £329 ex VAT), fully-serviced private offices for teams of 2–20 (price on application), hourly meeting room hire (£40–£60/hr at named rooms like B Hive, Huddle, Writers' Room), event spaces, and virtual offices from £75/month. Locations occupy adaptive-reused heritage buildings — former Debenhams, art deco electricity board buildings, libraries — under landlord partnerships and, in some cases, local-authority collaboration (e.g., Richmond Council for Twickenham).

The underlying technology platform is operational rather than AI-driven: members interact through the Patch Places mobile app (published by Nexudus Spaces, available on iOS and Android) for booking second screens, meeting rooms, event spaces, and managing app-based physical access; per-location subdomains (e.g., bournemouth.patch.work) host online booking portals; and event ticketing runs through Ticket Tailor and Eventbrite integrations. Marketing automation uses HubSpot for newsletter and referral capture. Patch has also integrated with Tally Workspace for third-party bookings.

The business model is primarily subscription-based recurring revenue from monthly memberships and private offices, supplemented by usage-based meeting room and event space hire, transaction fees from guest passes, lockers, and ticketed events, and a consultative sales layer (Office Sales Lead and Site Directors) for private office deals. Site Directors own local operations with strong autonomy, supported by a centralised Support Team covering Growth, Operations, Property, Product & Creative, Design, and Marketing. Patch is a Certified B Corporation (March 2024), a Real Living Wage employer, and offers share ownership to staff, with six locations operating or announced across Chelmsford, Bournemouth, High Wycombe, Twickenham, York, and Gloucester.

Name

Patch

Legal name

Patch

Website

https://patch.work

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Patch operates a UK network of neighbourhood coworking workspaces and serviced offices on local high streets, offering memberships, private offices, meeting rooms, event spaces and virtual offices to freelancers, SMEs and hybrid workers in adaptive-reused heritage buildings.

Ownership category

akta.pro rank

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Workspace Memberships (Coworking & Dedicated Desks): Recurring monthly subscriptions for coworking access (e.g., Chelmsford Associate 4 at £105/mo up to Resident desk at £329/mo, Bournemouth Coworking from £105/mo). Includes flexible plans (Associate 4, Associate 8) and dedicated desk (Resident). Multi-tiered subscription model with one-month notice period.
2. Serviced / Private Offices: Recurring revenue from fully-furnished private offices for teams of 2-20 with short-term leases, including access to shared amenities. Price on application (POA).
3. Meeting Room and Event Space Hire: Hourly and full-day rental of meeting rooms (e.g., B Hive from £60/hr, Huddle from £40/hr, Writers' Room from £55/hr, Academy and Bespoke POA) and event spaces. 20% discount for charities, B Corps, and Patch members. Three-week cancellation policy with 40% forfeiture.
4. Virtual Office Service: Recurring monthly subscription from £75/mo (ex VAT) providing professional business address, mail handling, discounted meeting room access and day passes.
5. Guest Passes and Lockers: One-time fees: Guest day passes £32+VAT for up to 8 hours, lockers £32+VAT per month for coworking members.
6. Event Ticketing and Programming Revenue: Ticketed events hosted at Patch venues (e.g., Creative Brunch Club Printmaking £36, Natural Network £10, Sound Bath £20, Speak Like a Speaker Club £30/month). Some events are free.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

Patch operates a national network of neighbourhood coworking studios, serviced/private offices, meeting rooms and event spaces in UK commuter towns, unified by a mobile app for member booking and access. It specialises in sustainably converting underutilised heritage buildings on UK high streets into integrated workspace and community venues, combining flexible memberships, dedicated desks, private offices, and a curated calendar of public events and cultural programming.

Product overview

Patch is a single, integrated platform of neighbourhood workspaces, delivered across a portfolio of physical sites in UK commuter towns, rather than a multi-product SaaS suite. The core offering is a unified membership that spans Coworking & Dedicated Desks (with tiered Resident, Associate Unlimited, Associate 8 and Associate 4 plans), Serviced Offices/Private Offices for teams of 2–20, Meeting Rooms and Event Spaces (including Market, Academy, Wellness Studio and Podcast Studio) plus Virtual Offices. These physical products are unified by the Patch Places mobile app, which members use to book second screens, meeting rooms and event spaces. Add-on programming layers include Patch Academy (skill-building sessions with partners like Code First Girls and The Raspberry Pi Foundation), Patch Seasons (a thematic cultural events programme), Patch Market (a cafe-style event space) and the Patch Refer a Team scheme. All products share consistent included amenities (high-speed Wi-Fi, ergonomic chairs, second screens, focus booths, complimentary bean-to-cup coffee, member perks, and 7-day-a-week access).

Differentiator

Problem solved

Functional benefit

Products and services

• Patch Coworking & Dedicated Desks Flexible coworking memberships with hot desks and dedicated desks in Patch's neighbourhood workspaces. Tiered memberships (Resident dedicated desk £329/mo, Associate Unlimited £239/mo, Associate 8 £155/mo, Associate 4 £105/mo ex VAT) include phone booths, second screens, ergonomic chairs, high-speed Wi-Fi, complimentary bean-to-cup coffee, focus booths, meeting room credits, free printing and member perks. For freelancers, hybrid workers, startups and SMEs.
• Patch Serviced Offices Ready-to-move-in, fully-serviced private office rentals for teams of 2-20 with short-term leases. Offerings are tailored for SMEs and startups and include access to all Patch shared amenities (lounges, focus booths, meeting rooms, complimentary coffee). Pricing on application (POA), with Bournemouth dedicated desks from £329/month ex VAT.
• Patch Meeting Rooms Design-led meeting rooms bookable by the hour for 2-30 seated attendees, equipped with HD TVs, video conferencing, HDMI connections, whiteboards, microphones and speakers. Named rooms include B Hive (up to 12, from £60/hr), Huddle (up to 5, from £40/hr), Writers' Room (up to 10, from £55/hr) and Academy (up to 18 boardroom / 50 theatre, POA). 20% discount for charities, B Corps and Patch members.
• Patch Event Spaces Multi-purpose event spaces for wellness classes, creative workshops, networking events, conferences and startup summits, including Market (cafe-style space overlooking Bournemouth Square), Academy (flexible studio with projector), Wellness Studio, Podcast Studio (at Patch Twickenham) and Bespoke (custom full-floor or full-building hire for up to 200 guests).
• Patch Virtual Offices Virtual office service providing a professional business address in the heart of Bournemouth, with secure incoming mail handling, discounted access to meeting rooms and day passes, and the ability to host guests in Patch's shared spaces. From £75/month ex VAT.

Quantifiable outcome

• Chelmsford reached profitability after 6 months of operation (2022)
• +4 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature4 records

Scale indicators10 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Runway East: UK coworking operator focused on startup and SME teams in non-central London locations with community-led programming — directly comparable to Patch's neighbourhood, SME-tenant positioning and event-driven model.
• TownSq: UK flexible workspace operator explicitly targeting high-street and town-centre locations; the closest direct peer to Patch's 'Work Near Home' positioning and adaptive-reuse of high-street buildings.
• The Trampery: London-based operator of startup and innovation workspaces with mission-led programming; comparable to Patch in serving startup tenants and partnering with public-sector landlords (e.g., Tower Hamlets, London Borough programmes).
• Work.Life: UK coworking operator with multiple London and Reading sites targeting SMEs and remote workers; directly comparable in coworking + serviced office product mix and design-led positioning.

Broad incumbents

• IWG (Regus, Spaces, HQ): Global leader in flexible workspace with thousands of locations; the dominant incumbent pushing into suburban and secondary-town UK markets where Patch operates, posing a capital-backed competitive threat.
• Workspace Group: London-focused flexible office operator with 60+ London properties serving SMEs; comparable in customer segment (SME tenants) and short-lease model, though geographically concentrated in central London.
• The Office Group (TOG): UK premium flexible office and coworking provider with design-led spaces; overlaps with Patch on design quality, SME target market, and event/community programming, though operating primarily in major cities.
• WeWork: Global coworking pioneer and broader-market competitor; relevant benchmark for Patch's flexible-workspace product mix even though WeWork's footprint is concentrated in major city centres rather than UK high streets.

Emerging players

• Second Home: Design-led, members' club-style coworking operator with UK and international sites; comparable to Patch in design-led positioning, event programming, and emphasis on creative/community audiences, though operating at city-scale.

Others

• BoroughWorks / Tally Workspace: Aggregator platform that lists Patch's spaces alongside other flexible-workspace operators for day/hour/month booking; functions as a distribution channel for Patch rather than a direct competitor, useful as a peer for understanding UK flexible-workspace market structure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/patchplaces
• Instagraminstagram.com/patchplaces

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Funding overview

Funding rounds1 record

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Patch