How COLABS grew from one Lahore coworking space into a workspace company with a campus in Riyadh

Omar Shah and his twin brother Ali started COLABS in 2019 to sell desks by the month and community by the event. It began as a single coworking facility in Lahore. In October 2024 it said it was profitable, and in April 2026 it opened a 4,000 square metre campus in Riyadh, its first major international expansion.

COLABS sells a physical product, space, yet it raised money from the same Pakistan focused venture firms that back software companies. Its later rounds brought in Saudi backers, and its Saudi company registration came before the Riyadh doors opened.

Two brothers and a building

Omar Shah, who runs COLABS as chief executive, is a former private equity and venture investor. His brother Ali runs SABCON, the family real estate and construction firm, which is COLABS' development partner and designs and builds its facilities. Fatima Mazhar, an early Careem executive, joined as chief operating officer.

By March 2022 Shah said the company had created around 1,200 seats. COLABS counted a partner network of more than 100 organisations, more than 250 events a year, and more than 200,000 visitors since 2019.

It also added products that did not depend on a floor plan. COLABS ran educational bootcamps and built a software platform for back office work such as company registration, payroll, talent sourcing and management, and legal and tax compliance.

The first cheque

In March 2022 COLABS announced a $3 million seed round, its first. Indus Valley Capital, Zayn Capital and Fatima Gobi Ventures led it, and the company said it was the first time those three Pakistan focused firms had invested together in one startup. Shorooq Partners, Kinnow Capital, Muir Capital and Sai Ventures took part, along with angel investors including Turner Novak, William Hockey and Teddy Himler.

Aatif Awan, founder and managing partner of Indus Valley Capital, said that when he first visited COLABS he found the community and energy to be a microcosm of the fast growing Pakistani tech ecosystem. Faisal Aftab, cofounder and managing partner of Zayn Capital, said he had closely watched COLABS grow into one of the key players in Pakistan's startup ecosystem.

The plan the company published then was specific. It wanted a community of 100,000 entrepreneurs and freelancers in Pakistan within five years, starting with 10,000 members within two years. It would open in Karachi and Islamabad later in 2022, and it would start overseas operations, mainly in the Middle East, by 2024. It also said it would turn its services into software products that people outside its network could use.

Some of that happened. COLABS now runs spaces in Lahore, Karachi and Islamabad, and the Middle East move arrived in 2026, two years after the date it had set. The company has not published a member count against the 100,000 target.

Profit and the Saudi bet

In October 2024 COLABS raised a $2 million pre Series A round led by Shorooq Partners, with Saudi based Waad Investment taking part. The round brought its total funding past $5 million. Earlier backers Indus Valley Capital, Fatima Gobi Ventures and Zayn Venture Capital were named alongside the new money. Shorooq had also taken part in the 2022 seed round, so the lead investor was a returning backer.

The company used the announcement to give its numbers. Revenue and workspace capacity had grown fivefold since it started, it said, and it was net profitable. It reported 10 locations, more than 5,000 seats and more than 300 employees. It also named more than 250 ecosystem partners, including Google Cloud, AWS, Red Bull and Spotify, and clients such as EY, Endeavor and Coca Cola.

One of its larger projects was with the state. COLABS worked with the Pakistan Air Force on the National Aerospace Science and Technology Park, which includes a facility with more than 1,000 seats. The company also ran Pitch to Win, a startup contest, and a Freelancer Fellowship that gives free workspace to more than 100 freelancers each quarter.

Shah said the funding marked a pivotal moment as the company set its sights on the Middle East and North Africa. COLABS had by then completed company registration in Saudi Arabia. Omer Zabit, a principal at Shorooq Partners, said COLABS had demonstrated impressive growth.

Riyadh, built as a local brand

The Saudi plan took another year to take shape. In October 2025 COLABS released a photo of its partnership signing with Waseel Investment. In April 2026 the Riyadh campus opened in the Al Narjis district of northern Riyadh.

The campus covers 4,000 square metres and is designed for more than 500 members. It has meeting rooms, event space, a rooftop terrace and a podcast studio, and it targets startups, scale ups and enterprise teams. COLABS says it has raised more than $8 million in total from investors including Shorooq, Waseel Partners and Indus Valley Capital. Shah has said Saudi Arabia represents a significant long term market for the company.

Shah has described the approach in Saudi Arabia as building a local brand and supporting people as they come in, and said he has visited the kingdom since childhood. The company says it wants to link the Pakistani and Saudi business communities through events, art, design and community programming. Faisal AlRashed, a managing partner at Waseel Partners, said the partnership reflects deepening economic ties between Saudi Arabia and Pakistan.

What the numbers say

COLABS now reports more than 500,000 square feet of workspace across more than 10 locations, with more than 5,000 members and 300 companies. These figures are the company's own.

The October 2024 round took total funding past $5 million, and the April 2026 report put it above $8 million, so roughly $3 million more arrived in between. The Riyadh campus, which opened in April with room for more than 500 members, is where that money and the Saudi bet are now being tested.