COLABS, a Lahore, Pakistan-based coworking space startup, is set to roll out a SaaS product to enable businesses to meet back-office needs including company registration, talent sourcing and management, payroll processing, and legal and tax compliance, secured $3 million in a seed round.
The round was led by Indus Valley Capital, Zayn Capital, and Fatima Gobi Ventures, the first time that the three Pakistan-focused VCs are investing in a startup together.
The seed round was joined by Shorooq Partners, Kinnow Capital, Muir Capital, Sai Ventures, and some key angels, including Turner Novak, William Hockey, and Teddy Himler.
It also plans to hire more staff, which will include increasing the product team for its SaaS workspace business service that is emerging from the beta phase.
Company: COLABS Global Pte
Raised: $3.0M
Round: Seed Round
Funding Month: March 2022
Lead Investors: Indus Valley Capital, Zayn Capital, and Fatima Gobi Ventures
Additional Investors: Shorooq Partners, Kinnow Capital, Muir Capital, Sai Ventures, and some key angels, including Turner Novak, William Hockey, and Teddy Himler
Company Website: https://colabs.pk/
Software Category: SaaS workspace services
About the Company: Founded in 2019 by Omar Shah and his twin brother Ali Shah, COLABS is Pakistan’s fastest-growing flexible workspace, thoughtfully designed to enable people and businesses to grow, aiming to inspire collaboration, productivity, and innovation through our platform and network. COLABS is constantly innovating, creating new work experiences, and redefining the future of work in Pakistan. COLABS's mission is to knit together a community of 100,000 entrepreneurs, starting with 5000 seats within the next 24 months across Pakistan. The startup hosts over 100 companies with a combined 1,200 people across its three locations in Lahore.
Source: https://techcrunch.com/2022/03/24/colabs-gets-3-million-seed-to-expand-across-pakistan-launch-back-office-saas-solution/