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Malaysia's WORQ co-working space raises $2.4 million in funding for expansion.

Since its launch in 2017, the company has been profitable.


Malaysia's WORQ co-working space raises $2.4 million in funding for expansion. | BEAMSTART News

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Malaysian co-working space operator, WORQ, has raised $2.4 million (RM 10 million) in funding, the company announced today.

Investors for the round are 7 follow-on investors, which include Singapore-based independent fund management company, Phillip Capital Management.

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WORQ has also secured loans from six banks — Affin Bank, Maybank, CIMB, Alliance, UOB and Ambank. 

WORQ co-working space in Subang, Malaysia.

Moving forward, the company will use the fresh funds to expand its co-working spaces presence to more locations, and to provide more cost-efficient workplace solutions amidst the pandemic.

WORQ is also looking to expand range of spaces via acquisitions and partnerships with other coworking space operators and landlords.

"WORQ aims to offer tailor made solutions and extreme flexibility to companies. This is comparable to that of ride-hailing services, which provide on-demand rides one at a time", mentioned WORQ CEO, Stephanie Ping.

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ABOUT THE AUTHOR

Alfred Lee

Journalist at BEAMSTART. I write about breaking business news in the region.

Based in Malaysia

Works at BEAMSTART

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WORQ Coworking Space

WORQ is a coworking space and a lifestyle that involves working collaboratively in a shared environment, with a supercharged business community.

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