COLABS, Pakistan’s leading startup workspace and entrepreneurial community platform has announced its expansion into Saudi Arabia with a flagship location in Riyadh. This move highlights the growing business and investment partnership between Pakistan and Saudi Arabia.
“Our expansion into Saudi Arabia marks a defining moment for COLABS as we take what we’ve built in Pakistan to one of the most dynamic markets in the region,” said Omar Shah, CEO and Co-Founder of COLABS. “Saudi Arabia’s Vision 2030 has created incredible momentum for innovation and entrepreneurship. We see Riyadh as the natural starting point for our MENA journey, a hub where we can help bridge ecosystems, connect founders, and build communities that bring both the nations together.”
The new Riyadh Site is currently being developed and will open in the coming months. It marks the first step in COLABS’ plan to expand across the MENA region.
The company has also raised more investment and formed a local partnership with Waseel Investment which will help in building and managing the Riyadh location.
“We’re thrilled to partner with COLABS on this new chapter,” said Faisal Al Rashed, Director of Investment, Waseel Partners. “This collaboration represents more than an investment; it’s a bridge between two thriving ecosystems. Together, we’ll help bring more Pakistani startups and businesses to Saudi Arabia, and open doors for Saudi entrepreneurs looking to connect with talent and innovation across Pakistan.”
Saudi Arabia has become the fastest-growing startup hub in the MENA region, attracting over $2 billion in venture funding in 2024 and making up more than 40% of all regional deals. With the coworking market expected to cross $1 billion by 2025 and a fast-growing entrepreneurial community, Riyadh is an ideal place for COLABS’ next phase of growth.
The partnership with Waseel Partners builds on COLABS’ earlier funding round in October 2024, which was led by Shorooq and Waad VC.
“The new investment marks Shorooq’s third time backing COLABS, reinforcing its long-term confidence in the company’s regional vision and ability to execute” Shane Shin, Founding Partner, Shorooq. “The team has built one of the most impactful entrepreneurial platforms in Pakistan, and their move into Saudi Arabia is just the start of a much larger regional opportunity.”
Federal Minister for IT & Telecommunication, Ms. Shaza Fatima Khawaja, congratulated COLABS on its expansion to Saudi Arabia. She commented, “Saudi Arabia and Pakistan are deepening their digital ties and both nations are working closely together to streamline cross-border digital investment. COLABS expansion is a clear reflection of the Digital Nation Pakistan vision taking shape beyond our borders.”
Founded in Lahore in 2019, COLABS has built a profitable and sustainable business in Pakistan by earning steady income from flexible workspaces, business services, and community programs. The company serves over 5,000 members from 300 companies and 250 partners across 10 active locations.
Startups in the COLABS network have raised more than $1 billion in total funding. The platform also hosts over 1,000 events each year, attracting over 500,000 visitors. COLABS is backed by top regional investors such as Shorooq Partners, Indus Valley Capital, Fatima Gobi Ventures, Zayn VC, Waad Investment, and several angel investors.
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