Lahore-Based Coworking Platform COLABS Raises $2 Million in Pre-Series A, Eyes Saudi Expansion

Lahore-Based Coworking Platform COLABS Raises $2 Million in Pre-Series A

Lahore-based coworking platform COLABS has raised $2 million in a pre-Series A funding round led by UAE’s Shorooq Partners, with participation from Saudi Arabia’s Waad Investment. This latest investment brings COLABS’ total funding to over $5 million, with previous rounds backed by prominent investors like Indus Valley Capital, Zayn Capital, and Fatima Gobi Ventures.

Founded in 2019, COLABS has rapidly grown into one of Pakistan’s leading coworking platforms, boasting 5,000 seats across 10 locations and a team of over 300 employees. The company has experienced a fivefold increase in revenue and has been profitable since 2023, with its existing locations reporting strong margins of 40-50%.

The newly raised funds will be used to support COLABS’ international expansion plans, including the launch of a new campus in Saudi Arabia. CEO Omar Shah highlighted Saudi Arabia’s Vision 2030 as a significant driver for their growth strategy, citing the kingdom’s increasing interest in venture capital and the broader potential for innovative workspaces.

“Saudi Arabia presents an exciting opportunity for us,” said Shah. “We are gearing up for a Series A round next year as we aim to play a key role in the country’s evolving business landscape.”

COLABS is notably the only Pakistani coworking platform to have secured venture capital funding post-WeWork’s collapse. The company has attracted top-tier investors, positioning itself as a strong player in the region’s coworking sector. In addition to its expansion plans, COLABS partners with major organizations such as Google Cloud and the Pakistan Air Force, managing a 1,000-seat facility for aerospace companies.

With this fresh funding and a clear growth trajectory, COLABS is well-positioned to become a regional leader in the coworking space as it prepares for its next phase of scaling.

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