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COLABS Raises USD 2M in Pre-Series A Funding

COLABS Raises USD 2M in Pre-Series A Funding
Image Source: COLABS

COLABS, Pakistan’s leading flexible workspace provider, has successfully raised USDD 2M in its pre-Series A funding round. The round was led by Shorooq Partners, with participation from Waad Investment, supporting the company’s expansion into Saudi Arabia.

Omar Shah, Co-founder and CEO, highlighted the company’s resilience. He stated, “In the last five years, since I moved back to Pakistan and started building COLABS, it hasn’t been an easy journey.”

Despite launching amid global coworking industry challenges, the company has thrived against the odds.

COLABS’ Expansion and Innovation

COLABS has grown its network to over 10 locations, catering to 5,000 members across 300 companies. The company raised a total of USD 5M to date and achieved profitability, reporting fivefold revenue growth.

This success has been driven by a combination of flexible workspaces, comprehensive business solutions, and entrepreneurial support programs.

The platform now fosters innovation and creativity through initiatives such as COLABS Talks, Freelancer Connect, and COLABS Creative Collective, which has supported over 300 artists.

Strengthening Market Position

The company’s international expansion marks a significant move in positioning COLABS against regional and global competitors. With Saudi Arabia as the next target, the company wants to replicate its success in Pakistan by building a strong entrepreneurial community.

This expansion aligns with the region’s growing demand for hybrid workspaces, driven by government policies encouraging entrepreneurship.

By targeting high-growth markets and sustaining its leadership in Pakistan’s coworking sector, the company aims to strengthen its competitive edge.

The company’s goal to onboard 10,000 members in two years and continued international expansion reflects its confidence in outpacing regional competitors.

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