UAE-based electronics marketplace Revent earned $900,000 from Techstars and angel investors in a pre-Seed round. Revent, founded in 2022 by Baldeep Singh and Dhananjay Choubey, rents pre-owned equipment to UAE and KSA SMEs monthly.
It will use the funding to construct a business self-service platform and expand its Saudi Arabian client base. In 2022, Baldeep Singh and Dhananjay Choubey created it, a tech gadget bank for SMEs, which raised $900,000 from investors in its pre-seed round.
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It uses technology to provide UAE and Saudi Arabian businesses monthly subscriptions to excellent pre-owned gadgets.
“There are approximately 2 million SMEs in UAE and Saudi Arabia that are spending up to 22% of their limited capital on depreciating assets like Laptops, Monitors, phones, etc. Revent is creating a bank of quality devices and an AI powered virtual IT desk that these SMEs can leverage to reduce their Capex and focus their capital on growth,” – Dhananjay Choubey, Co-founder of Revent
The pre-seed financing included Techstars and famous e-commerce and SaaS angels.
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“It offers devices at up to 40% lower cost of ownership to Businesses compared to traditional options, which is one of the reasons for rapid growth,” Techstars Managing Director Vijay Tirathrai stated.
Mr. Baldeep Singh, Co-founder and CEO, said the funds will be used to establish a self-service platform for businesses to manage devices, pay invoices, and request AI-powered IT desk support, as well as grow the Saudi Arabian customer base.
About Revent
Revent is MENA’s first pre-loved ecommerce platform. Custom-built for daring, environmentally conscious, value-seeking clients.
