FastFive Taps Airfob Space to Unlock Rapid Scalability while Increasing Member Satisfaction
At MOCA; we’re putting our 100% cloud-based mobile access control technology to the test in a big way. We’ve recently signed a multi-site agreement with FastFive, Korea’s largest and fastest-growing co-working operator, with 36 locations across Seoul, serving more than 30,000 members.
Fresh off a $30 million fundraising round, FastFive will open more than 80 co-working spaces by 2023. MOCA’s Airfob Space, a new proptech solution combining cloud-based member management and access control, is key to this scale-up.
Mobile access untethers co-working staff from reception desks
Community managers at most co-working spaces spend countless staff hours issuing, managing, and replacing physical access cards for members. Airfob Space replaces these costly cards with virtual mobile badges stored on members’ mobile phones and managed 100% in the cloud. For large operators like FastFive, this is the key that unlocks incredible cost savings and scalability. For small operators or building owners, it serves as a turnkey solution for turning underutilized spaces into income-generating co-working spaces.
Having completed a successful proof of concept at multiple locations, Airfob Space will roll out across 16 locations in 2021 and expand to FastFive’s entire network over the next few years. MOCA is also in talks with additional co-working operators in Asia, as well as other member-oriented companies such as gyms.
Airfob is key to achieving scale for co-working spaces
For FastFive, the decision to go with MOCA was obvious. “We chose Airfob Space because it helps us scale up more effectively, consolidating our membership management across dozens of locations into a single cloud-based solution. This improves the member and employee experience at our existing spaces while enabling new business models such as our FIVESPOT co-working lounges,” the company said in a statement.
Airfob Space is more than an online access control system. It includes tools that allow member-driven companies like co-working spaces and gyms to deeply analyze how people use their spaces. MOCA provides a full stack solution including a secure cloud-based management portal, APIs, and SDKs so companies can incorporate mobile credentials into their own apps, and standalone, controller-free edge readers that can be customized with company logos.
“Co-working has grown 10-fold over the past 10 years, but they are still using expensive, hard-to-manage RF cards for access control. Airfob Space is more convenient for members, more secure, and will make co-working spaces and other member-based organizations more profitable,” said Andrew Kim, CEO of MOCA System.