Revent raises $900,000 pre-Seed to bolster KSA expansion plans

Revent raises $900,000 pre-Seed to bolster KSA expansion plans

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