- By offering guarantee-backed refurbished devices the company has helped save over 4 million kgs of CO2 emissions while delivering savings of over US$14million to UAE consumers
- This round adds to the US$2.3 million the firm raised in seed funding last year, and will be directed towards expansion of geographic footprint,and customer care and quality assurance teams
Dubai, United Arab Emirates – December 17, 2024 –Inless than two years since its launch, UAE-founded Revibe, the leader in guarantee-backed refurbished tech, has marked another milestone,having recently closed its Series A of US$7million in a round co-led by ISAI and Resonance, and featuring prominent investors such as Kima Ventures and Edouard Mendy. This follows a year of strongrevenue growth for the company. The fresh infusion of funds now strongly positions Revibeas the leader in the MENA region’s US$6billion refurbished consumer electronics segment.
Commenting on the drivers of the company’s success, RevibeCo-Founder, Abdessamad Benzakour said, “Buoyedby clear and commendable government visions and initiatives, an increasingly sustainability-oriented society, and cost-conscious consumerism,the market for pre-loved tech is set to accelerate to US$20billion within a decade. While our ability to deliver like-new devices at 30% to 70% below their retail price points is undoubtedlyappealing, it is our unmatched quality assurance that sets us apart,earning us a loyal and ever-expanding customer base.”
After securing US$2.3 million in seed funding last year, Revibe— which at launch focused on smartphones and laptops —considerablyexpanded its category of offerings, adding gaming, accessories, and smartwatches.To elevate customer convenience and deliver a slicker and more streamlined purchasing experience, the company also invested to deliver dedicated iOS and Android apps.
As it progresses steadily towards its goal of being the region’s ‘trusted marketplace for refurbished tech’, Revibemaintains customer satisfaction as its north star. The company’scomprehensive 1-year warranty, free shipping and returns, 10-day return policy, and human-led and AI 24×7 customer support have resonated strongly with consumers, yielding sales of over 80 thousandsrefurbished devices over the last two years. This has translated not only to savings of over US$14million for customers, but also over 4 million kgs of CO2 emissions and 960million litres of water being saved.
With its latest infusion of funds, Revibe will now work to accelerate and consolidate its expansion in emerging markets, while investing in expanding its customer care and quality assurance teams. Hamza Iraqui, Revibe’s other Co-Founder highlighted,“Our revenue growth proves that we have a sound business model that addresses a clear market need in emerging markets. We are especially proud to stand as proof that a sustainability-focused enterprisecan be a win-win endeavour, turning over positive unit economics while deliver compelling value to customers. These will continue to be the pillars of our strategy as we expand steadily across other geographies.”
“We are thrilled to invest in the leading B2C marketplace for refurbished electronics in the region. This venture reflects our commitment to supporting innovative solutions that enhance accessibility and sustainability in consumer technology. We are happy to already witness a significant growth of the company since our investment earlier this year – with healthy unit economics,” commented William Vermont – Principal at ISAI.
Maxime Le Dantec– Partner at Resonance, added, “Revibe is one of the fastest-growing startups we’ve had the privilege to support through Resonance, and today we’re proud to double down on our investment. As the leading electronic refurbishment marketplace in the MENA region, Revibe is poised to expand its reach globally, with a bold ambition to become the #1 player in developing markets. They are tackling an impressive US$30 billion market opportunity with remarkable execution.”
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About Revibe
Revibe, established in 2022, is a B2C marketplace specializing in refurbished electronics. Operating across four countries—KSA, UAE, Kuwait, and South Africa—Revibe is committed to advancing the circular economy in the tech industry. The platform ensures trust and quality through rigorous product vetting, a 12-month warranty, a 10-day return policy, and a seamless, delightful shopping experience.
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