Room to grow
- There’s plenty of opportunities in the co-working space, with flexible offices only having 1% market penetration in Kuala Lumpur, compared to the 3% regional average, and 30% projected by 2030. (JLL Research)
- Malaysia’s very own 500-backed coworking space provider WORQ has an exceptional track record of profitability and, according to the team, a dominant market position, attracting 14 investors in its latest pre-Series B fundraising round.
- Global asset management firm, Phillip Capital, led this round with its largest placement to-date and its third consecutive investment into WORQ.
- WORQ is currently on track to double its space under management by the end of 2023 and aims to triple that to 450,000 square feet by 2025.
- “Southeast Asia has become a prime location for many businesses looking to diversify and build their global supply chain. The Malaysian market is strategically positioned to capture these opportunities as we are a diverse, multilingual country with an educated talent pool and a robust SME supply chain,” – Stephanie Ping, CEO and Co-Founder of WORQ.
- Aiming to become the ‘Amazon of office spaces’, WORQ’s innovative Space-As-A-Service model provides clients scalability and flexibility through its network of cloud offices, with corporate clients accounting for 70% of WORQ’s demand compared to only 20% pre-pandemic
- To date, WORQ has incubated 300 startups and 100 tech companies with plans to enable over 10,000 workers by 2025.
- Read the full story on TechNode Global.
