With the recent closing of its $7 million Series A round, which was co-led by ISAI and Resonance and included notable investors like Edouard Mendy and Kima Ventures, UAE-founded Revibe, the industry leader in guarantee-backed refurbished technology, has achieved yet another milestone in less than two years since its founding. This comes after a year in which the company’s revenue increased significantly. Revibe is now well-positioned to lead the $6 billion refurbished consumer electronics market in the MENA region thanks to the new funding infusion.
Commenting on the drivers of the company’s success, Revibe co-founder Abdessamad Benzakour said, “Buoyed by clear and commendable government visions and initiatives, an increasingly sustainability-orientated society, and cost-conscious consumerism, the market for pre-loved tech is set to accelerate to $20 billion within a decade. While our ability to deliver like-new devices at 30% to 70% below their retail price points is undoubtedly appealing, it is our unmatched quality assurance that sets us apart, earning us a loyal and ever-expanding customer base.”
Revibe, which at launch concentrated on smartphones and laptops, significantly broadened its category of offerings by adding gaming, accessories, and smartwatches after obtaining $2.3 million in seed funding last year. The business also made an investment in creating specialized iOS and Android apps in order to improve customer convenience and provide a sleeker, more efficient shopping experience.
Revibe keeps customer satisfaction as its top priority as it works steadily toward becoming the area’s “trusted marketplace for refurbished tech.” Over the past two years, the company has sold over 80,000 refurbished devices thanks to its extensive 1-year warranty, free shipping and returns, 10-day return policy, and human-led and AI-led round-the-clock customer support.
Revibe keeps customer satisfaction as its top priority as it works steadily toward becoming the area’s “trusted marketplace for refurbished tech.” Over the past two years, the company has sold over 80,000 refurbished devices thanks to its extensive 1-year warranty, free shipping and returns, 10-day return policy, and human-led and AI-led round-the-clock customer support. Customers have saved more than $14 million as a result of this, and 960 million liters of water and more than 4 million kg of CO2 emissions have also been avoided.
Revibe will now use its most recent round of funding to invest in growing its customer service and quality assurance teams while attempting to quicken and solidify its growth in emerging markets.
Hamza Iraqui, Revibe’s other co-founder, highlighted, “Our revenue growth proves that we have a sound business model that addresses a clear market need in emerging markets. We are especially proud to stand as proof that a sustainability-focused enterprise can be a win-win endeavour, turning over positive unit economics while delivering compelling value to customers. These will continue to be the pillars of our strategy as we expand steadily across other geographies.”
“We are thrilled to invest in the leading B2C marketplace for refurbished electronics in the region. This venture reflects our commitment to supporting innovative solutions that enhance accessibility and sustainability in consumer technology. We are happy to already witness a significant growth of the company since our investment earlier this year—with healthy unit economics,” commented William Vermont, principal at ISAI.
Maxime Le Dantec, Partner at Resonance, added, “Revibe is one of the fastest-growing startups we’ve had the privilege to support through Resonance, and today we’re proud to double down on our investment. As the leading electronic refurbishment marketplace in the MENA region, Revibe is poised to expand its reach globally, with a bold ambition to become the #1 player in developing markets. They are tackling an impressive US $30 billion market opportunity with remarkable execution.”
