Lahore-based coworking platform COLABS has secured $2 million in a pre-Series A funding round, led by UAE’s Shorooq Partners, with additional investment from Saudi Arabia’s Waad Investment. This latest injection brings COLABS’ total funding to over $5 million, with prior investments from Indus Valley Capital, Zayn Capital, and Fatima Gobi Ventures.
Since its founding in 2019, COLABS has quickly emerged as one of Pakistan’s top coworking platforms, operating 5,000 seats across 10 locations with a team of over 300 employees. The company has achieved fivefold revenue growth and has been profitable since 2023, with existing locations delivering strong margins of 40-50%.
The newly raised capital will fuel COLABS’ international expansion, particularly with a new campus set to launch in Saudi Arabia. CEO Omar Shah emphasized that Saudi Arabia’s Vision 2030 plays a key role in their strategy, noting the kingdom’s rising focus on venture capital and the growing demand for innovative workspaces.
“Saudi Arabia is a promising market for us,” Shah stated. “We’re also preparing for a Series A round next year, as we aim to significantly contribute to the country’s evolving business landscape.”
COLABS stands out as the only Pakistani coworking platform to secure venture capital funding following WeWork’s collapse. The company’s strong roster of investors has positioned it as a major player in the regional coworking space. Beyond its expansion, COLABS collaborates with key organizations like Google Cloud and the Pakistan Air Force, managing a 1,000-seat facility for aerospace companies.
With this fresh funding and a clear path for growth, COLABS is on track to become a leading coworking space provider in the region as it gears up for its next phase of scaling.
