Mohamed Nohassi/Unsplash
- Revibe set up in Dubai in 2022
- 80,000 refurbished devices sold
- Pro League footballer among investors
A UAE company that specialises in refurbishing electronics is targeting new markets after raising $7 million in Series A funding.
Revibe, which offers refurbished laptops, smartphones and other devices, has now closed its funding round, which was co-led by the French tech venture capital companies ISAI and Resonance.
Also included in the round were the French early-stage investor Kima Ventures and the footballer Edouard Mendy – a goalkeeper now playing for Al Ahli in the Saudi Pro League and formerly of Chelsea FC – who has recently moved into tech investments.
Revibe, established in 2022 and based in Dubai, started with a focus on phones and laptops and has since expanded its offering to gaming equipment, tech accessories and smartwatches.
It has sold more than 80,000 refurbished devices in two years.
Revibe, which raised $2.3 million in seed funding last year, says it plans to use the latest injection of funds to accelerate and consolidate its expansion in emerging markets, while also expanding its customer care and quality assurance teams.
It currently operates in the UAE, Saudi Arabia and South Africa.
Revibe describes itself as the leader in Mena’s refurbished consumer electronics segment, which it says is worth $6 billion.