Islamabad, Oct 24: In a pre-Series A round led by UAE’s Shorooq Partners and including Saudi Arabia’s Waad Investment, Pakistan’s co-working platform COLABS has raised $2 million.
As the company gets ready for a Series A financing next year, CEO Omar Shah says the money would be used to construct a campus in Saudi Arabia. With this, COLABS now has more than $5 million in funding overall. Indus Valley Capital, Zayn Capital, and Fatima Gobi Ventures are among the previous investors.
COLABS, which was founded in 2019, employs more than 300 people and has 5,000 seats spread across 10 sites. Since 2023, it has been profitable, and its revenue has increased fivefold.
The margins for existing locations are 40–50%.
According to CEO Omar Shah, Saudi Arabia’s Vision 2030 has a lot of room to grow and is attracting more venture money. Top investors including Indus Valley Capital and Fatima Gobi Ventures have shown interest in COLABS, the only coworking facility in Pakistan to obtain venture capital funding since WeWork’s demise.
Additionally, COLABS manages a 1,000-seat facility for aerospace businesses in collaboration with Google Cloud and the Pakistan Air Force.
The business tycoons are developing a growing confidence in COLABS as the co-working space industry leader in Pakistan.
The $2 million pre-Series A funding round include local and international venture capitalists that have eye on co-working business in Pakistan.
Since the concept remote and hybrid working models continue to grow famous in the global market COLABS like is aptly positioned make the most of it. Meanwhile the COLABS Raises $2 Million in Pre-Series A Round article presents valuable information on the topic when the need for such services is rapidly growing.
The company will revolutionize the traditional office space model, while providing its users with flexibility, sense of community, and creativity. With this new funding, COLABS now opens up the doors for quick expansion while its trajectory plans to put more investment into Pakistan’s startup environment.
