What First Workplaces does

First Workplaces (legally Busining Desarrollos Empresariales, S.L.) is a Spanish flexible office and coworking operator founded in 2009 by Óscar García Toledo, headquartered in Pozuelo de Alarcón, Madrid. The company operates ten premium business centres across Madrid, Barcelona, and Málaga, totalling more than 26,000 m² of workspace and serving over 500 companies. Its offering is structured as a tiered portfolio: Executive Offices (1–2 workstations), Private/Team Offices (4–18 workstations), Corporate Offices (up to 300 workstations), Coworking desks, Meeting/Conference Rooms (2–40 attendees), Event Spaces (50+), and Virtual Office services including company domiciliation and telephone answering. All products are bundled on an all-inclusive monthly subscription covering cleaning, security, reception, internet, utilities, and 24/7 access, with no upfront capital requirement for tenants.

The underlying technology stack is operational rather than software-native: a multilingual WordPress/HubSpot website, HubSpot-driven marketing automation, paid acquisition across Google, Microsoft, and Bing Ads, and on-site property management teams handle sales, client onboarding, and service delivery. There is no proprietary software platform, API surface, or AI/ML capability disclosed. The competitive positioning leans on prime real estate in iconic buildings (Torre Europa, Paseo de la Castellana 130, La Finca Business Park, Calle Larios), 15 years of operating history, and a Spanish-market leadership narrative reinforced by the CEO's board seat at industry association ProWorkSpaces.

Revenue is generated primarily through recurring monthly office subscriptions supplemented by usage-based meeting room and event rentals; pricing is quote-based and not publicly disclosed. Go-to-market combines enterprise field sales for corporate accounts, direct website and phone inquiries for SMEs and professionals, and a referral program offering up to €600 per successful recommendation. Customer mix spans freelancers, SMEs, mid-market firms, and enterprises, with publicly named clients including Repsol, Cognizant, Santander, Lenovo, Acer, Lastminute.com, Raisin Technology, Tungsten Automation, BSI Group Iberia, and UserTesting.

Name

First Workplaces

Legal name

Busining Desarrollos Empresariales, S.L.

Website

https://firstworkplaces.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

101–250 employees

Short description

First Workplaces is a Spanish flexible office and coworking operator running ten premium centres (26,000+ m²) across Madrid, Barcelona, and Málaga, serving 500+ companies with all-inclusive, customizable workspace subscriptions for freelancers, SMEs, and large enterprises.

Ownership category

akta.pro rank

Product category

Flexible Office Space & Serviced Offices

NAICS

Facilities Support Services (561210)

SIC

Services-Facilities Support Management Services (8744)

akta.pro primary industry

Workplace Hospitality & Office Services (Pantry, Refreshments, Supplies) (BPABAEAF)

akta.pro secondary industry

Office Services & Supplies Management (Stationery, Inventory, Vendor Coordination) (IMAIALAH)

Keywords

• Flexible office space
• Serviced offices
• Coworking spaces
• Meeting room rental
• Virtual office services

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices10 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Marketing or Sales, Others

Revenue model

1. Office Space Rental: Rental of private offices, executive suites, and corporate office spaces on flexible terms. Revenue generated through recurring monthly fees that include all services and utilities.
2. Coworking Desks: Individual fixed or flexible workstation rental in shared coworking spaces with access to common areas and networking opportunities.
3. Meeting and Conference Rooms: Hourly or daily rental of meeting rooms, conference rooms, and event spaces with full technology support.
4. Virtual Office Services: Company registration (domiciliation) and dedicated telephone answering with exclusive phone numbers for businesses.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

First Workplaces rents flexible, fully furnished, and fully serviced office space across ten business centres in Madrid, Barcelona, and Málaga. Its portfolio covers executive offices (1-4 workstations), private team offices (4-18 workstations), corporate offices (up to 300 workstations), coworking desks, meeting and conference rooms, corporate event spaces, and virtual office services, all delivered on monthly subscriptions with an all-inclusive fee covering cleaning, reception, security, internet, and utilities.

Product overview

First Workplaces operates as a unified flexible office and coworking platform offering a comprehensive portfolio of workspace solutions. The core offering comprises Executive Offices (1-2 workstations), Private Offices (4-18 workstations), and Corporate Offices (up to 300 workstations) for businesses of all sizes. Supporting services include Coworking Spaces with individual workstations, Meeting Rooms (2-24 people), Conference Rooms (up to 40 attendees), Event Spaces (50+ attendees), and Virtual Offices for company registration and telephone answering. The platform also includes a Referral Program for client incentives. All spaces feature all-inclusive pricing with services such as daily cleaning, reception, security, and internet included in monthly fees. The company operates 10 centers across Spain with over 26,000 m² of flex office space.

Differentiator

Problem solved

Functional benefit

Products and services

• Executive Offices (Despachos ejecutivos)
• Private Offices (Oficinas privadas) Private offices for small teams of 4-18 workstations, designed for SMEs, growing businesses, and international commercial offices. All-inclusive monthly pricing with no upfront investment.
• Corporate Offices (Oficinas corporativas) Tailor-made corporate spaces adapted to the needs of the business for up to 300 workstations, offering flexible configurations and full customisation for large enterprises. All-inclusive service bundle on monthly subscription.
• Coworking Spaces (Espacios Coworking) Individual fixed or flexible workstations in shared spaces designed to foster collaboration, inspiration, and networking among professionals, with access to common areas. Monthly subscription.
• Meeting Rooms (Sala de reuniones) Versatile meeting spaces accommodating from 2 people to executive sessions of up to 24 attendees, equipped with modern technology. Rented by the hour or by session.
• Conference Rooms (Sala de conferencias) Training rooms and conference spaces with capacity for up to 40 participants, featuring projectors, surround sound systems, and screens for presentations. Rented by the hour or by full day.
• Corporate Event Spaces (Espacios para eventos) High-impact event venues in iconic locations across Madrid, Barcelona, and Málaga, including terraces and spaces with capacity for more than 50 attendees, designed for corporate events, workshops, networking sessions, and cocktail receptions. Available by the hour or full-day sessions with state-of-the-art technology including projectors, video conferencing, and symmetrical fibre internet.
• Virtual Offices (Oficina Virtual) Company registration (domiciliation) and telephone answering services with a dedicated exclusive number, providing businesses with a professional address and reception services without a physical office. Monthly subscription.

Quantifiable outcome

• More than 500 companies have already chosen First workplaces offices
• +1 more outcomes

Named customers12 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Four partnerships are on record, tiered core, minor and flagship.

• TTS (The Tenant Solution)coreStrategic or Co-development PartnerTTS is an independent consulting firm specializing in the optimization of real estate spaces. First Workplaces collaborated with TTS to create a flexible, bespoke office for Lastminute.com. The partnership demonstrates the flex-office model as the optimal solution for corporate workspace needs.
• ProWorkSpacescoreStrategic or Co-development PartnerSpanish association of operators in the coworking and flexible office sector. First Workplaces is a member and CEO Óscar García Toledo serves on the board. The company participates in industry events and discussions through this association.
• British Chamber SpainminorGTM or Marketing PartnerCollaboration partner for events on personal brand development and professional networking. First Workplaces hosted an event in collaboration with the British Chamber Spain at Plaza de Castilla First.
• Lastminute.comflagshipOthersMajor corporate client for whom First Workplaces and TTS created a bespoke flex office solution. The online travel company now has new corporate offices accommodating over 100 people in a customized private space.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Mindspace: Premium flex-office operator with locations in Madrid. Comparable on premium positioning, all-inclusive service model, and enterprise/SMB dual focus; positions similarly in design-led, icon-building real estate.
• WeWork: Global flex-office operator offering private offices, coworking, and enterprise solutions in major Spanish cities. Comparable in product mix (flex terms, all-inclusive, enterprise tier) and customer segments, though at larger scale and now post-restructuring.
• Utopicus: Spanish coworking and flexible workspace operator with multiple sites in Madrid and other Spanish cities. Closest home-market peer with comparable product offering (coworking, private offices, event spaces) and similar target SMB and corporate customers.
• IWG (Regus, Spaces, HQ, Signature): World's largest flex-office operator with extensive presence in Madrid and Barcelona. Directly comparable on product (private offices, coworking, meeting rooms) and target customers (SMEs to enterprises), with overlapping premium-location strategy.
• OneCoWork: Barcelona-headquartered coworking and flex-office operator with premium locations in Spain. Directly comparable on city footprint (Barcelona), product range (offices, coworking, meeting rooms), and SMB-to-enterprise customer mix.
• Cloudworks: Spanish operator of coworking and flexible workspaces focused on professionals, freelancers, and SMEs. Comparable product offering and customer segments, though with a stronger coworking tilt and smaller enterprise footprint than First Workplaces.

Emerging players

• Impact Hub: Global coworking network with Spanish locations serving entrepreneurs, social enterprises, and impact-driven teams. Comparable on shared workspace product, but differentiated by mission focus and community-led programming rather than premium corporate real estate.

Regional players

• The Office Operators (T.O.O.): Madrid-based provider of flexible offices, coworking, and meeting rooms. Strongly comparable product mix and Spanish capital focus; serves a similar SMB/mid-market customer base though typically outside First Workplaces' flagship icon-building locations.
• Talent Garden: European coworking and innovation campus operator with Spain presence. Comparable on coworking and enterprise offerings, but with a stronger emphasis on tech/education communities and broader geographic footprint across Italy and Northern Europe.

Others

• TTS (The Tenant Solution): Independent real estate consultancy specializing in workspace optimization and tenant representation. Already a strategic partner of First Workplaces (collaborated on the Lastminute.com project); included as a peer because it sits in the same enterprise workspace advisory value chain and represents an adjacent revenue stream/comparable.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/Firstworkplaces

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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 First Workplaces