Stephanie Ping, CEO and Co-Founder of WORQ
Malaysia-based coworking and flexible space provider WORQ has closed an undisclosed amount in a pre-Series B funding round from global asset management firm Phillip Capital.
Investors in this round include the Leong family office of property developer Mah Sing Group.
The funding raised will be used for space expansion. As per a statement, WORQ is currently on track to double its space under management by the end of 2023 and aims to triple that space to 450,000 sqft by 2025.
Also Read: There is an opportunity in every winter: Stephanie Ping of WorQ
Founded in 2017, WORQ aims to make real estate more accessible by offering office spaces designed like Google’s, making real estate available to users through a space-as-a-service approach.
In 2023, the company claims to have achieved an 80 per cent revenue growth while maintaining mid-teen net profit margins. The firm said the demand for flexible office space is on the rise, with growing interest not only from its traditional clients like tech startups and SMEs but also from global companies expanding into the region.
“We have built a network of one-stop business centres that serve as vital infrastructure for foreign and local business formation in Malaysia,” said CEO Stephanie Ping.
Ping also sees this as a pivotal element in the job creation cycle, fostering upskilling and knowledge transfer to support Malaysia’s long-term sustainable development through high-income job opportunities.
—
Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.
The post WORQ closes pre-Series B round to expand co-working spaces in Malaysia appeared first on e27.