In Pakistan, startups are gaining more and more popularity. Not only the local investors but also the foreign investors are eyeing Pakistani startups. Daily we see startups raising money to further their business and reach. In this era of startups, COLABS has also raised $ Million in the seed round.
COLABS a startup based in Lahore, is known for providing tech and spaces to freelancers, small and medium businesses, and entrepreneurs. Though it is a co-working platform, it provides a variety of other services, which makes it much more than just a co-working platform. Since its establishment in 2019, COLABS has evolved from being a co-working platform to incorporate tools to take the business to the next level.
The twin brothers Omar Shah and Ali Shah found the startup in 2019. The aim behind launching COLABS was to boost the ecosystem of startups in Pakistan. As Omar Shah said, “We had founded COLABS to help speed up the Pakistani startup ecosystem and we’re very proud of what we have achieved in a little over three years. Even though we’re mainly seen as co-working operators, what we have built is a solid foundation to make it easy for freelancers, startups, and even international companies entering Pakistan to start and manage their businesses. Today anyone looking to start a company in Pakistan could use COLABS not only as a place where they work but also as a partner that manages their different back-office functions.”
COLABS appears to be the first startup to attract investments from three Pakistan-focused venture capitalists (VC) i.e., Zayn Capital, Fatima Gobi Ventures, and Indus Valley Capital. This all is owed to the sheer hard work that COLABS has shown in three years. It’s a big thing from being a co-working operator to having over 100 partners, annually hosting over 250 startup-related events with about 200,000 attendees.
Therefore, the investors have such high hopes for the startup and are investing together in it. One of investor Zayn Capital’s Co-founder, Faisal Aftab, said “I have closely watched COLABS grow into one of the key players in Pakistan’s startup ecosystem. We were fortunate enough to have met some startups we invested in their spaces. Omar and his team continue to do excellent work to speed up the growth of the startup ecosystem here and we are excited to join their journey in serving tens of thousands of founders and freelancers across Pakistan.”
Any startup with uniqueness, the right talent, and a clear goal can make it to the top just like COLABS. The journey and success story of the startup is really something to get inspiration from. Moreover, with the money raised, the startup is planning “to knit together a community of 100,000 entrepreneurs and freelancers in Pakistan, starting with 10,000 members within the next two years.” This with the expansion of the startup from Lahore to all the major cities in Pakistan, taking it to new heights.
We wish COLABS the best of luck for future endeavors and hope that more startups come forward and play their role in boosting the ecosystem in Pakistan.