Lahore-based coworking space startup, Colabs, is set to roll-out a SaaS product to enable businesses meet back-office needs including company registration, talent sourcing and management, payroll processing and legal and tax compliance. 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.
The new plans come after the startup secured $3 million in seed funding in a round 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.
Colabs co-founder and CEO Omar Shah, a former investment banker, told TechCrunch, ‘We realized that people setting up operations in Pakistan need other services; they need help to set up companies, process payrolls and to ensure tax compliance. That is why we introduced our business solutions.”
“Our plan is to get to 600 paying customers in the next 12 months, and from there we will roll this product out to the market,” said Shah.
Mr Shah and his twin brother Ali Shah co-founded Colabs as a co-working outfit for entrepreneurs launching businesses and multinationals setting hubs in Pakistan. This was in 2019 and they were inspired by the flourishing startup ecosystem and advancing technology space in the country.
Prior to launching Colabs, Mr Shah worked in the private equity sector for about eight years, with his last assignment at Abraaj Capital,...
Read Full Story: https://techcrunch.com/2022/03/24/colabs-gets-3-million-seed-to-expand-across-pakistan-launch-back-office-saas-solution/
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