PureGym & Innocent Smoothie founders back high street "revival" initiative

Patch, a company on a mission to reignite UK high streets by empowering thousands of people to “work near home”, has today announced a £3m fundraise and the launch of two new sites which will accelerate its plans to bring community-driven “neighbourhood workspaces” to every high street in the country.

Patch is transforming empty or neglected local buildings into a network of innovative, design-led community spaces on local high streets where the public can work, meet and discover local initiatives.

These spaces are lovingly regenerated to give everyone - from freelancers to SMEs, working parents and hybrid workers - an accessible and inspiring place to work that’s near to where they live, as well as acting as community hubs for local cultural events and creative initiatives, such as podcast recordings, networking events, pottery workshops and maker’s markets.

This £3m round included investment from JamJar Investments - the fund launched by the founders of Innocent Smoothies - joined by Blue Wire Capital, Vectr7 Investment Partners LLP, Active Partners (the investors behind Soho House), and Triple Point Ventures.

A number of high street stalwarts have also backed Patch as angel investors, including; Peter Roberts, founder of PureGym; Emma Woods, former CEO of Wagamama; Jeremy Sanders, co-founder of Coco di Mama and Wendy Becker, former CEO of Jack Wills.

Through these “lighthouses for local life”, Patch wants to breathe new life into Britain’s ailing high streets - which have suffered a steep decline in recent years - and help empower communities to rediscover the community spirit and pride which binds and strengthens local areas, as well as benefit from the opportunities these connections can bring.

This investment will enable Patch to expand their network of spaces. With a successful Patch already up and running in Chelmsford, Essex, Patch is set to launch two new locations in Summer 2023; unveiling sites in Twickenham, Greater London and High Wycombe, Buckinghamshire. More launches are planned for 2023 and beyond, with the team aiming to open up to 100 sites over the coming years.

Set to open this summer, Patch Twickenham is being launched in partnership with the BIG South London programme; a South London-wide drive to unlock knowledge-based economic growth in the area. Located at 42 York Street, Patch is being supported by the local Council to launch the new hub of community opportunity.

Freddie Fforde, founder and CEO of Patch, comments: “Our belief is simple, that great people are everywhere and they deserve the same opportunities too often sequestered in our major cities. The internet has been enabling this shift to a talent-centric world for a long time but was accelerated by the pandemic.”

‘Work near home’ means a better balance in our lives, less commuting and more time for our neighbours, friends and family, whilst increasing our confidence in the potential of SMEs and flexible workers across the country. With high streets struggling, Patch has the opportunity to bring hope and good news - facilitating communities to come together, invest in each other and celebrate the very best in ‘local’.“

Peter Roberts, founder of PureGym, comments: “We are at a pivotal moment for our high streets. We need to back bold, creative, and innovative companies like Patch if we want to reignite local areas and transform them for the better. There is so much talent and potential in every corner of the UK and Patch is creating a new way for that talent to thrive.”

By Mark Adair – Correspondent, Bdaily

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