Revibe Leads in MENA Refurbished Tech with $7M Funding
Deal News | Dec 18, 2024 | ISAI SC
Revibe, a UAE-founded leader in the refurbished tech market, has secured $7 million in Series A funding co-led by ISAI and Resonance, with participation from Kima Ventures and Edouard Mendy. This funding follows a year of strong revenue growth and positions Revibe as a leader in MENA's $6 billion refurbished consumer electronics segment. The company, which initially focused on smartphones and laptops, has expanded its offerings to include gaming, accessories, and smartwatches, alongside launching dedicated iOS and Android apps. Revibe's commitment to quality assurance, including a comprehensive warranty and cost savings, has secured sales of over 80,000 devices in two years. The company aims to leverage this investment to expand in emerging markets and enhance its customer service capabilities, emphasizing a strategy rooted in sustainability and positive unit economics. ISAI and Resonance express strong confidence in Revibe's growth trajectory and market potential, indicating further investment as the company aims to capture a portion of a $20 billion market within the next decade.
Sectors
- Consumer Electronics
- Sustainability
- E-commerce
Geography
- Middle East and North Africa (MENA) – Revibe is focused on the MENA region, where it aims to lead the $6 billion refurbished consumer electronics market.
- United Arab Emirates – Revibe is a company founded in the UAE, highlighting its origins and base of operations.
- Emerging Markets – Revibe plans to expand its market reach into emerging markets, addressing a clear demand for refurbished technology.
Industry
- Consumer Electronics – Revibe operates in the consumer electronics sector, focusing on refurbished technology such as smartphones, laptops, gaming devices, accessories, and smartwatches.
- Sustainability – Revibe emphasizes sustainability by reducing CO2 emissions and water usage, aligning with trends in environmentally responsible technology consumption.
- E-commerce – As a B2C marketplace for refurbished electronics, Revibe operates within the e-commerce industry, leveraging online platforms and mobile apps to reach consumers.
Financials
- $7 million – Total amount raised in Revibe's Series A funding round.
- 80,000 devices – Number of refurbished devices sold by Revibe over two years.
- Over $14 million – Savings achieved by Revibe customers through purchasing refurbished devices.
- Over 4 million kg – CO2 emissions saved by Revibe through its sustainability efforts.
- 960 million litres – Amount of water saved as a result of Revibe's environmental initiatives.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Revibe | Target Company | Company | A UAE-founded company leading the MENA region's refurbished tech market. |
| ISAI | Co-Lead Investor | Company | A private equity firm investing in Revibe's Series A funding round. |
| Resonance | Co-Lead Investor | Company | A company participating in leading Revibe's $7 million Series A funding. |
| Kima Ventures | Investor | Company | An investor involved in Revibe's Series A funding round. |
| Edouard Mendy | Investor | Person | A notable individual investor participating in Revibe's fundraising. |
| Abdessamad Benzakour | Co-founder of Revibe | Person | Co-founder of Revibe, commenting on the company's success and strategy. |
| Hamza Iraqui | Co-founder of Revibe | Person | Co-founder of Revibe, discussing revenue growth and strategy. |
| William Vermont | Principal at ISAI | Person | Principal at ISAI, commenting on Revibe's growth and investment. |
| Maxime Le Dantec | Partner at Resonance | Person | Partner at Resonance, expressing confidence in Revibe's market potential. |