Co-working start-up Second Home to seek fresh funding

Co-working operator Second Home, the co-working space run by a former aide to ex-prime minister David Cameron, is to seek new funding following cost overruns at its Hollywood outpost. Rohan Silva, the start-up’s co-founder, told the Financial Times he had agreed terms for a new injection of capital from existing investors. Its search for new funding, a year after it had raised £20m, comes as investors are growing more cautious about shared-office start-ups, following the issues faced by SoftBank-backed WeWork. The UK-based start-up has five other locations in London and Lisbon. In 2017, Second Home made a loss of £5.2m on £5.4m of revenue, according to accounts for that year. Companies House records list the start-up’s 2018 accounts as overdue by a month.   To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette