IFunding has joined the trend of young companies using co-working or shared office spaces to cut operating costs and accommodate staff.
The company, which focuses its business on crowd-funding for real estate ventures, moved its staff into Alley NYC, a Midtown co-working space that accommodates small and start-up businesses in need of office spaces and meeting rooms.
There are about 74 different companies that use the 16,000-square-foot space. The companies operate individually but often function as a small community, eating lunch and attending industry events at the space together.
The rapid growth of crowd-funding has fueled the growth of companies like iFunding. There are about eight full- and part-time employees that work for the company.
While at the space, the company will take advantage of the high-tech fiber powered by Zayo. As business for the young company continues to grow, William Skelley, chairman and CEO of iFunding, said the company is shopping for a new solo location in the city. The move should be completed during the first half of 2014. In addition to the move, iFunding will continue expanding its crowd-funding platform and commercial real estate ventures. The company has an office in India and has plans to expand and open a third office in Singapore in 2014.