Dubai start-up Revibe raises $2.3m in funding

Dubai start-up Revibe raises $2.3m in funding

Revibe, a Dubai-based refurbished-electronics start-up, announced it has raised US$2.3 million in order to accelerate its growth within the US$6 billion refurbished consumer electronics market in the MENA region.

The refurbished consumer electronics market is expected to reach US$20 billion within the next decade.

The funding round was led by Resonance, a €150m VC fund based out of Paris, and Flat6Labs, the Middle East and North Africa’s leading early-stage venture capital firm, responsible for one of the most renowned startup programs in the region. Other funding groups supporting Revibe include Techmind, another leading French investor that is building a community of entrepreneurs and investors to help startups grow safely and more rapidly; Financiere Saint James (family office of Michael Benabou — cofounder Veepee) and several business angels.

Revibe was founded in July 2022 by Abdessamad Benzakour and Hamza Iraqui, who had identified the need to create trust in the regional second-hand electronics market. The company is a B2C Marketplace for refurbished electronics, with the promise to provide customers like-new devices for 30-70% cheaper than new. Iraqui, a serial entrepreneur, was formerly a partner