UAE – Mubasher: Dubai-based electronics marketplace Revent has secured $900,000 in a pre-seed round led by Techstars and a group of angel investors, according to a press release.

Revent will use the funds to scale up its client base in Saudi Arabia. It will also create a self-service platform for businesses to manage their devices, pay invoices, and raise requests for AI-powered IT desk support.

Co-founded by Baldeep Singh and Dhananjay Choubey in 2022, Revent is a tech device bank for SMEs that leverages technology to offer quality pre-owned devices on monthly subscriptions to businesses across the UAE and Saudi Arabia.

Choubey, Co-Founder of Revent, highlighted: “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,” he added.

Vijay Tirathrai, Managing Director of Techstars, said: “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 the rapid growth of the company.”