Pakistani workspace platform Colabs has secured $2 million in pre-Series A funding led by Shorooq Partners, with participation from Saudi-based Waad Investment, it announced in a statement today.
The investment brings Colabs’ total funding to over $5 million. Colabs, which operates flexible workspaces across Pakistan, plans to use the funds to expand into Saudi Arabia. The company has already completed its registration in the Kingdom and is preparing to replicate its local success in international markets, starting with Saudi.
Founded in 2019 by brothers; Omar and Ali Shah, Colabs has grown its revenue and workspace capacity fivefold since inception, achieving net profitability. It currently operates 10 locations with over 5,000 seats and employs more than 300 people.
The platform has partnered with over 250 ecosystem enablers, including Google Cloud, AWS, Redbull, and Spotify, and counts global corporations like EY, Endeavour, and Coca-Cola among its clients.
The workspace provider has also established initiatives like Pitch to Win and the Freelancer Fellowship program, which offers free workspace to over 100 freelancers every quarter.
Commenting on the investment, Omar Shah, co-founder and CEO of Colabs, said, “This funding marks a pivotal moment for Colabs as we set our sights on the vibrant MENA market, with a particular focus on Saudi Arabia’s flourishing entrepreneurial ecosystem.”
“Our success in Pakistan has proven the strength of our model in fostering innovation and supporting startups. Now, we’re excited to
bring this blueprint to new markets, empowering entrepreneurs across the region and contributing to the dynamic growth of the MENA startup landscape,” he added.
Omer Zabit, Principal at Shorooq Partners, noted, “Colabs has demonstrated impressive growth, emerging as a key player in Pakistan’s startup landscape despite local macroeconomic challenges. We are proud to support their next phase of growth as they expand into Saudi Arabia, one of the most exciting markets in the region.”
The company has also partnered with the Pakistan Air Force to build the National Aerospace Science and Technology Park, operating a 1,000+ seating facility to support tech companies in Pakistan’s growing aerospace sector.
The existing investors in the company include Indus Valley Capital, Fatima Gobi Ventures, and Zayn Venture Capital.