Pakistan’s leading coworking platform, COLABS, has successfully raised $2 million in a pre-Series A funding round, led by UAE-based Shorooq Partners and joined by Saudi Arabia’s Waad Investment. The new capital injection brings COLABS’ total funding to over $5 million, with previous backing from prominent investors such as Indus Valley Capital, Zayn Capital, and Fatima Gobi Ventures.
This funding will support COLABS’ strategic expansion, with plans to open a campus in Saudi Arabia, tapping into the kingdom’s Vision 2030 and a rising wave of venture capital interest. This milestone marks COLABS as the only Pakistani coworking space to secure venture capital backing since the global WeWork fallout, reflecting investor confidence in Pakistan’s dynamic coworking landscape.
Founded in 2019, COLABS has swiftly established a network of 5,000 seats across 10 locations in Pakistan, employing over 300 people. With revenue growth exceeding fivefold, the company has remained profitable since 2023, maintaining strong operational margins of 40-50% at its established sites.
CEO Omar Shah described Saudi Arabia as a natural market for COLABS’ expansion, particularly in light of Vision 2030’s support for entrepreneurship and innovation hubs. He noted, “The interest from regional investors underscores the strength of our model and the potential for further growth as we continue our journey toward a Series A round next year.”
COLABS also collaborates with Google Cloud and the Pakistan Air Force, managing a 1,000-seat facility dedicated to aerospace firms. This latest expansion into Saudi Arabia signals an ambitious step forward in COLABS’ mission to support businesses and entrepreneurs across the Middle East.
