• UAE-based electronics marketplace Revent has raised $900,000 in a pre-Seed round, provided by Techstars and a group of angel investors.
• Founded in 2022 by Baldeep Singh and Dhananjay Choubey, Revent offers SMEs pre-owned devices on monthly subscriptions across the UAE and KSA.
• The funds will be used to build a self service platform for businesses, along with growing Revent’s client base in Saudi Arabia. 

Press release:

Revent co-founded by Baldeep Singh and Dhananjay Choubey in 2022, is a tech device bank for SMEs that successfully raised $900,000 from a group of investors as part of its pre-seed round. Revent is leveraging technology to offer quality pre-owned devices on monthly subscriptions to businesses across UAE and Saudi Arabia. 

“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 round saw participation of prominent angels from e-commerce and SaaS industries, along with Techstars.

“Revent offers devices at up to 40% lower cost of ownership to Businesses compared to traditional options and that is one of the reasons for rapid growth of the company,” Mr. Vijay Tirathrai, Managing Director of Techstars, said.

Mr. Baldeep Singh, the Co-founder and CEO, said the funds will be used to build a self-service platform for businesses where they can manage their devices, pay invoices and raise support requests for AI-powered IT desk support, along with growing the client base in Saudi Arabia.