Revibe Has Raised $2.3 Million For Planned MENA Expansion

Dubai-based startup Revibe has raised $2.3 million in a seed funding round that will allow it to expand its product portfolio across the MENA region, while enhancing the refurbished electronics platform’s contribution to the circular economy.

The investment was led by Egypt’s Flat6Labs and French-based venture capital fund Resonance, plus several other angel investors. Revibe, which primarily sells refurbished smartphones, laptops, and tablets, will now be able to scale its supply chain and diversify its portfolio to include other categories of electronics later this year.

The company was able to grow 500% within seven months across the Gulf countries, with a particular focus on the UAE and Saudi Arabia.

“Our success has come from always meeting our pledge to customers. But we are expanding all the time, and our goal is to gradually introduce all categories of electronics,” explained Hamza Iraqui, co-founder of Revibe.

Revibe’s strategy aligns with the concept of the circular economy — an economic system that focuses on reducing the use of new natural resources and minimizing waste.

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“Refurbished electronics represents a massive opportunity, especially in this time of economic challenges and growing climate awareness, where consumers are more mindful of their carbon impact while facing decreased purchasing power,” noted Maxime Le Dantec, partner and co-founder at Resonance.

Revibe was founded in 2022 and uses a business-to-consumer selling model that offers refurbished electronics at 30-70% less than brand-new items. The company’s team of engineers makes a 50-point check on all products listed on the marketplace and uses artificial intelligence to monitor quality and meet its strict selling standards.