Swish Club, a Devices-as-a-Service (DaaS) platform, has raised $4.5 million in a pre-Series A funding round, which includes $1.2 million in debt financing and $3.3 million in equity. Blume Ventures, Founders Fund, Touchstone Ventures, Eternal Capital, and Atrium Ventures participated in the equity round, which was led by Powerhouse Ventures. Other investors in the round included Tushar Patel, Deb Dutt, Ajit Reddy, and Anuj Srivastava of Livspace.
Prior to this, the Bengaluru-based business had raised $1.26 million from its current investors and other sources.
Dushyant Sapre, Suraj Kumar, and Jai Anand founded Swish Club in 2023 as a one-stop shop for security software, end-point management, and enterprise devices. The platform manages every stage of a device’s lifecycle, including procurement, setup, management, security, safe returns, and upgrades.
Swish Club reports that DaaS partners with over 125 businesses and lets businesses and their staff select the laptops and smartphones they want from manufacturers like Apple, Samsung, HP, Dell, and Lenovo.
According to Swish Club, it has onboarded more than 125 enterprise clients, including startups like Whatfix, Zetwerk, Meesho, Plum, Allen, Porter, Bold Care, FamPay, Zolvit, Qila Games, and Addverb, as well as enterprise clients like Max Life Insurance, Bennett and Coleman, HDFC Life Insurance, PepsiCo, Informatica, Philips, GMR, RPG Group, Landmark Group, and Zensar.
“Managing corporate devices is a complex, multi-step process involving procurement, financing, asset management, and eventual recycling. Each step requires different vendors, leading to cost implications, lack of transparency, and multiple back-and-forths. Swish Club is simplifying this with India’s first digital Device-as-a-Service (DaaS) platform, helping businesses remove these depreciating assets from their balance sheets and reduce IT costs from 10% to just 3% of total capex—all with just a few clicks through a dedicated platform,” said Dushyant Sapre, CEO & Co-founder of Swish Club.
Swish Club claims to have launched India’s first digital platform for corporate employees to rent smartphones and laptops for businesses under its Device-as-a-Service (DaaS) solution. Asset Management Portal (AMP), Mobile Device Management (MDM), antivirus, and device cleaner are the four complimentary pre-bundled software programs included with the enterprise device rental package.
Swish Club faces competition from unorganized players in India and from businesses like Grover and Everphone on a global scale.
