WORQ has successfully raised RM10 million in funds for the five years of growth ahead. Since it last raised funds in 2018, WORQ grew its footprint seven-fold, with revenue expanding by a whopping 560 percent.
In this latest round, WORQ announced investments from seven follow-on investors including regional investment group Phillip Capital and loan offers from six banks, including Affin.
WORQ is poised to grow its space under management 10-fold to one million square feet into the potential RM3 billion market by 2030.
“Fundraising amid the pandemic is a strenuous challenge to businesses and MDEC is exceptionally proud of WORQ for this remarkable feat. As one of the 7 certified Malaysia Digital Hubs (MDH), WORQ has proven its mettle as a formidable startup community builder through their collaborative programmes and providing a fertile ground for tech companies to spur digital innovation,” said Gopi Ganesalingam, VP of MDEC’s Global Growth Acceleration Division.
Keeping things flexible means that WORQ has also expanded its range of services to include WORQ Enterprise, a Space-On-Demand division dedicated to consulting and customising workspaces for companies.
These integrated solutions help companies save up to a staggering 30 percent in costs every month. This strategy has won WORQ multi-national corporations (MNC) as clients — WORQ’s purpose-built headquarters for its clients in Malaysia house some 500-strong teams for top-tier banks and one of the world’s largest advertising firms headquartered in London.
WORQ will soon launch its proprietary community app, SPARQ to create an online-offline experience for its users.
“A community workstyle is powerful because, at any moment that you need help, or someone to collaborate with, you will find great value in being able to tap into the community,” co-founder, Stephanie Ping said.
“This spawns local communities everywhere, thereby canvassing the globe with productive hyper-localised communities all over the world. Ultimately, WORQ’s vision is to help people prosper by working together,” she added.