UAE-founded Revibe, a leading marketplace for refurbished electronics, has raised $7 million in Series A funding co-led by ISAI and Resonance.
The funding round also featured prominent investors like Kima Ventures and footballer Edouard Mendy.
This latest investment follows the company’s $2.3 million seed funding from last year and positions Revibe as a key player in the MENA region’s $6 billion refurbished consumer electronics market.
Co-founder Abdessamad Benzakour said: “Buoyed by 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 $20 billion within a decade. While our ability to deliver like-new devices at 30 per cent to 70 per cent below their retail price points is undoubtedly appealing, it is our unmatched quality assurance that sets us apart, earning us a loyal and ever-expanding customer base.”
Since its launch in 2022, Revibe has significantly expanded its product range from smartphones and laptops to include gaming devices, accessories, and smartwatches. The company has also developed dedicated iOS and Android apps to enhance customer experience.
The startup’s two-year performance includes selling over 80,000 refurbished devices, generating more than $14 million in customer savings, and contributing to environmental sustainability by saving 4 million kg of CO2 emissions and 960 million liters of water.
Co-founder Hamza Iraqui said: “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 enterprise can 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.”
Currently operating across four countries – Saudi Arabia, UAE, Kuwait, and South Africa – Revibe offers a comprehensive 1-year warranty, free shipping and returns, a 10-day return policy, and 24/7 human and AI-supported customer service.
“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,” said William Vermont – Principal at ISAI.
“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 $30 billion market opportunity with remarkable execution,” added Maxime Le Dantec, Partner at Resonance.
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