COLABS secures $2m for Saudi market expansion

KARACHI: COLABS, a leading Pakistani venture-backed workspace platform, has secured $2 million in pre-Series A funding, led by Shorooq Partners, said a statement on Thursday.The investment will fuel COLABS’ expansion into Saudi Arabia, a rapidly growing market for startups and entrepreneurs.

With this new funding, COLABS aims to replicate its success in Pakistan by providing essential infrastructure and support services to startups, freelancers and entrepreneurs in Saudi Arabia. The company has already established a presence in the country and is poised to capitalise on its thriving entrepreneurial ecosystem.

“This funding marks a significant milestone for COLABS as we expand our reach into the MENA region,” said Omar Shah, co-founder and CEO of COLABS.COLABS has experienced rapid growth in recent years, increasing its revenue and workspace capacity fivefold while achieving net profitability. The platform now boasts over 5,000 seats across 10 locations and a team of more than 300 employees.