Revibe, a UAE-based leader in the refurbished consumer electronics market, has raised $7 million in its Series A funding round. The round was co-led by ISAI and Resonance, with participation from investors like Kima Ventures and renowned football star Edouard Mendy. This funding milestone comes as Revibe continues its rapid growth, cementing its position as a dominant player in the Middle East and North Africa (MENA) region’s $6 billion refurbished electronics market.
Pioneering Refurbished Electronics in MENA
Established less than two years ago, Revibe has already achieved remarkable success by selling over 80,000 refurbished devices, saving customers a cumulative $14 million while contributing to sustainability by reducing 4 million kilograms of CO2 emissions and conserving 960 million litres of water.
Revibe’s product lineup includes refurbished smartphones, laptops, gaming devices, accessories, and smartwatches. The company’s offerings are bolstered by features such as a one-year warranty, free shipping and returns, and 24/7 customer support powered by both human assistance and AI technology.
“Our ability to deliver like-new devices at 30 to 70 per cent below retail prices is appealing, but it’s our unmatched quality assurance that sets us apart,” said Abdessamad Benzakour, Revibe’s co-founder. He also highlighted the increasing demand for pre-loved tech, predicting that the MENA refurbished electronics market could reach $20 billion within the next decade.
Scaling Operations and Expanding Markets
With the newly secured funding, Revibe plans to expand into emerging markets and enhance its customer care and quality assurance teams. The company has also invested in mobile applications for iOS and Android to simplify the purchasing process and improve the overall customer experience.
Co-founder Hamza Iraqui emphasized the startup’s dual commitment to sustainability and scalability. “Our revenue growth validates our business model and proves that a sustainability-focused enterprise can achieve positive unit economics while delivering compelling value to customers,” he stated.
Investor confidence in Revibe’s vision was further reflected in the remarks of ISAI Principal William Vermont, who said, “We are thrilled to invest in Revibe, which is addressing accessibility and sustainability in consumer technology. The company’s growth since our initial investment earlier this year highlights its strong unit economics and execution.”
Maxime Le Dantec, partner at Resonance, added, “Revibe is one of the fastest-growing startups we’ve supported. As the leading refurbishment marketplace in MENA, the company has the potential to become the number one player in developing markets, tackling an impressive $30 billion market opportunity.”
Aiming for a Sustainable Future
Revibe’s efforts not only position it as a leader in the refurbished electronics space but also align with global sustainability goals. With cost-conscious consumerism and sustainability gaining traction, Revibe aims to transform the pre-loved tech market, delivering quality products at competitive prices while minimizing environmental impact.
