Founded in April 2008, Colombo FC was created to support the growth of local talent from Colombo’s City Football League and the Colombo Football League. The club was able to enter the 3rd Division of the Sri Lanka Football Federation during the 2009/10 season. They became Division 3 runners-up in the 2010/11 season after losing to Matara SC 2–0 in the finals, held at Vernon Fernando Stadium, Kalutara.
Colombo FC won its first championship trophy on April 25, 2010, beating Java Lane SC 3–2 to win the Silver Cup. In Division 2 of the 2011/12 football season, Colombo FC lost in the semifinals to the eventual champions in a 5–4 penalty shoot-out after a 1–1 tie. That year, all four semifinalist teams, namely Super Sun, Civil Security. Solid FC and Colombo FC, were promoted to Division 1