Co-founded in 2022 by Dhananjay Choubey and Baldeep Singh, Revent is a tech device bank for SMEs that raised $900,000 in its pre-seed round from investors. Through the use of technology, Revent is able to provide businesses in the United Arab Emirates and Saudi Arabia with high-quality used devices on installment plans.
“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.
Along with Techstars, notable angel investors from the SaaS and e-commerce sectors participated in the pre-seed round.
“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.
The funds will be used to expand the clientele in Saudi Arabia and develop a self-service platform for businesses where they can manage their devices, pay bills, and submit support requests for AI-powered IT desk support, according to Mr. Baldeep Singh, the co-founder and CEO.
