UOB Partners With Chinese WeWork
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UOB China partners with major Beijing-based co-working space provider Ucommune to provide its clients with favorable rental solutions while also accessing their new Chinese client base.
In addition to access to over 200 co-working spaces in China, UOB’s startup and SME clients will gain preferential rates for office rentals and conference room bookings, member discounts and access various networking opportunities from Ucommune.
The firm was founded in 2015 as «UrWork» and is currently the second-largest co-working space provider after WeWork.
In exchange, Ucommune’s individual and corporate members will gain access to the UOB banking platform for various needs including FX solutions, wealth management products and virtual accounts. The two will also support Chinese startup and SME expansion in Southeast Asia.
Ucommune is among a growing network of co-working space providers that UOB has partnered within the region. Others include Common Ground (Malaysia), WORQ (Malaysia), Toong (Vietnam) and 80RR Fintech Hub SG (Singapore).
Questions & Answers
Q.What benefits will UOB clients receive from this partnership with Ucommune?
What benefits will UOB clients receive from this partnership with Ucommune?
UOB's startup and SME clients will gain preferential rates for office rentals and conference room bookings, member discounts, and access to networking opportunities. They can also use over 200 co-working spaces in China.
Q.What does Ucommune gain from partnering with UOB?
What does Ucommune gain from partnering with UOB?
Ucommune's individual and corporate members will gain access to the UOB banking platform. This includes services such as FX solutions, wealth management products, and virtual accounts for their various financial needs.
Q.How will the partnership support businesses looking to expand internationally?
How will the partnership support businesses looking to expand internationally?
The two companies will collaborate to support Chinese startup and SME expansion into Southeast Asia. This suggests a strategic aim to facilitate cross-border growth for these businesses.
Q.Has UOB partnered with other co-working space providers in the region?
Has UOB partnered with other co-working space providers in the region?
Yes, UOB has partnered with a growing network of co-working space providers. These include Common Ground and WORQ in Malaysia, Toong in Vietnam, and 80RR Fintech Hub SG in Singapore.
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