Revibe Bags US$7 Million Series A To Drive Expansion
Initially specializing in smartphones and laptops, the company now offers an array of products, including gaming devices, accessories, and smartwatches.
Revibe, a UAE-based B2C marketplace specializing in refurbished electronics, secured Series A funding of US$7 million in a round co-led by ISAI and Resonance, alongside notable investors such as Kima Ventures and Edouard Mendy.
This injection of capital positions Revibe to lead the Middle East and North Africa (MENA) region's $6 billion refurbished consumer electronics market. The company will focus on accelerating and strengthening its expansion into emerging markets, while also investing in the growth of its customer care and quality assurance teams.
Operating across four countries — KSA, UAE, Kuwait, and South Africa — Revibe, which was founded by Abdessamad Benzakour and Hamza Iraqui in 2022, offers a service that is backed by both human expertise and artificial intelligence (AI). Over the past two years, the company has sold more than 80,000 refurbished devices, enabling customers to save over $14 million, while also reducing CO2 emissions by over four million kilograms and conserving 960 million liters of water.
In an interview with Inc. Arabia, Hamza Iraqui, co-founder of Revibe, said, “Revibe’s success can be attributed to several key factors. First, by offering high-quality refurbished electronics with a rigorous vetting process, a 12-month warranty, and a 10-day return policy, we built trust in a segment where quality assurance is critical. Second, we position the company at the forefront of the growing demand for sustainable solutions, aligning with environmentally conscious consumers and trends like the circular economy in the tech industry. Lastly, by operating in KSA, UAE, Kuwait, and South Africa, we have tapped into markets with high demand for affordable, reliable tech products and rapidly growing e-commerce adoption.” Iraqui went on to elaborate on the other factors essential to thriving in the competitive refurbished electronics landscape, including attention to customer experience with clear value-building, and expanding from core categories to gaming, smartwatches, and accessories.
Building on the momentum of its $2.3 million seed funding secured last year, Revibe has boldly expanded its horizons. In 2023, the company launched iOS and Android apps to provide customers with a more comfortable shopping experience.
Initially specializing in smartphones and laptops, the company now offers a range of products, including home tech and appliances like home devices (e.g., speakers, thermostats), and small appliances like coffee machines, as well as refurbished audio equipment like headphones and sound systems. The startup is also considering including e-mobility devices such as electric scooters and e-bikes to meet the growing demand for sustainable and affordable tech solutions.
Iraqui told us that the key factors for Revibe's rapid growth in emerging markets include the startup's ability to meet growing demand easily and affordably. “Emerging markets have a growing middle class and increasing digital adoption, creating a strong need for affordable, reliable tech products. Additionally, promoting refurbished electronics as a sustainable alternative aligns with rising environmental awareness in emerging economies.” He continued, “Limited access to brand-new electronics in some regions allows Revibe to establish itself as a trusted provider of quality tech. And last, through partnering with local retailers, marketplaces, or repair services, we can help reduce operational friction and build trust in new markets.”
On the challenges ahead, Iraqui noted several hurdles that Revibe will have to navigate as it scales its operations. “First, trust and quality perception, since consumers in emerging markets may have lingering skepticism about refurbished products. So, overcoming this requires significant investment in education, warranties, and transparent quality processes.”
He added that addressing challenges across logistics, regulatory markets, and pricing will be key to supporting the startup's growth in the next phase. “Emerging markets often face challenges like longer delivery times, underdeveloped logistics infrastructure, and high import/export costs. In addition, since import regulations or taxation policies for electronics can vary, [this can create] barriers to entry in some markets. And last, while affordability is key, balancing price competitiveness with profitability can be challenging.”
