Woba Brazil Flexible Workspace: $13,5 Million to Expand Office Platform

The Series B funding was led by investment fund Bewater

Woba Brazil flexible workspace startup has raised US $13,5 million to accelerate its growth and scale its SaaS-enabled office marketplace across Latin America. The Series B round was led by Bewater, with continued support from Kaszek Ventures and Valor Capital Group, who had invested in Woba’s Series A in 2021—back when it was known as BeerOrCoffee.

The round also included participation from Citrino Ventures (the family office of the Ermírio de Moraes family) and Endeavor, through its Catalyst and Scale-Up funds.

Woba’s Expansion and AI Strategy

The Woba Brazil flexible workspace platform operates on a membership model and gives companies access to over 2,000 spaces across more than 370 cities. CEO Roberta Vasconcellos said the new funds will help expand both the supply side (real estate partners) and demand side (corporate clients), while advancing Woba’s use of artificial intelligence.

“We’re expanding into new cities, adding new asset types, and investing in AI to scale how we match users to workspaces,” she explained.

The company will also focus on onboarding real estate investment trusts (FIIs) and corporate landlords to help monetize vacant or underused inventory.

Woba’s Office Network Corporate Clients and Revenue Growth

Since its founding in 2017 by Roberta and Pedro Vasconcellos, Woba has transitioned from a coworking aggregator into a full-fledged flexible workspace platform. Today, 70% of its revenue comes from large enterprises.

Its corporate client base includes Cielo, which uses Woba to manage 108 distributed office spaces. Other customers include XP, Itaú, C6 Bank, Mercado Livre, and Stellantis.
According to LatamList, additional users include iFood, Stone, Mapfre, and Prudential, reinforcing Woba’s reach across financial services, tech, and insurance.

The company reported 135% year-over-year revenue growth and aims to sustain that trajectory through 2025.

Flexible Workspace Meets SaaS Model

Woba Brazil flexible workspace users benefit from a hybrid model: companies pay monthly SaaS fees and allocate creditsthat employees can use to book coworking spaces, private rooms, meeting areas, and event venues.

Woba handles centralized billing and distributes revenue shares to partner operators—similar to models seen in Wellhub (formerly Gympass), but designed specifically for office infrastructure.

The Firms Behind the Deal

Company Cousel

Foley & Lardner LLP (U.S.): Advised Woba in both Series A and Series B. Foley’s transactional team in this Series B funding was led by partner André Thiollier (Palo Alto/San Francisco) with associates Trevor Mullin and Mackenzie Barret.

Foley is a full-service global U.S. law firm with a strong Latin America practice, advising on cross-border venture capital, technology, and growth equity transactions involving Brazil, Mexico, broader Latin America, and the U.S.

Carey Olsen (International Counsel): Advised Woba in all international aspects of the transaction with partner Trevor McCabe leading the firm’s deal team with support from associate Todd Wierenga

Barreto Veiga Advogados (Brazil): Acted as local Brazilian Counsel for the company with partners Felipe Barreto Veiga, Rafael Teixeira and Gabriel Abdalla leading the firm’s team together with associates Enzo Gerbin, and Renata Anspach.

Investors Counsel

Bronstein, Zilberberg, Chueiri & Potenza Advogados (BZCP) (Brazil): Represented lead investor Bewater. The deal was led by partner Guilherme Potenza with associates Giuliana Primati, Luisa Penkal and Giovanna Suslik.

BZCP is a top-ranked boutique in venture capital and M&A, representing high-growth startups and investment funds. Founded by Sergio Bronstein, Eduardo Zilberberg, Pedro Chueiri, and Guilherme Potenza, the firm is recognized by Chambers and Leaders League.

Wilson Sonsini Goodrich Rosati (U.S.): Advised investor Valor. Partner Matt Squires led the firm’s transaction team with associate Jose Corte-Real.

Resumo em português:
A Woba levantou US$ 13,5 milhões para expandir sua plataforma de escritórios flexíveis no Brasil.